Silver price breaches the resistance – Analysis - 03-10-2018

Silver price provided strong positive trades yesterday to breach 14.73 level and settles above it, as it begins today with bullish bias to move the mentioned level, which pushes the price to achieve more expected gains in the upcoming period, to start bullish correction that its next target located at 38.2% Fibonacci correction level at 15.22.

Therefore, the bullish bias will be suggested in the upcoming sessions, supported by moving above the EMA50, noting that breaking 14.73 and trading below it again will push the price back to the main bearish track and stop the current rise.

Expected trading range for today is between 14.60 support and 15.00 resistance.

Expected trend for today: Bullish