Silver price breaks the support – Analysis - 01-07-2019

Silver price broke 15.23 level clearly and settled below it, which hints that the price faces potential negative pressue in the upcoming sessions, but we notice that the bullish channel’s support line protects the price from suffering more losses, which makes us prefer staying aside temporarily until we get clearer signal for the next trend, which we will get through breaking 15.10 support or breaching 15.30 resistance.

Note that breaking the mentioned support will press on the price to achieve more decline and head towards 14.73 as a next negative target, while breaching the resistance will lead the price to regain the main bullish trend that its next main target located at 15.63.

The expected trading range for today is between 15.00 support and 15.40 resistance.

The expected trend for today: Neutral