Silver price completes the positive pattern – Analysis - 13-08-2019

Silver price rallied upwards strongly yesterday after breaching the bullish pennant’s resistance, to start testing 17.30 level, waiting to breach this level to reinforce the expectations of extending the bullish wave on the short term basis, as our next target is located at 18.45.

Therefore, the bullish trend scenario will remain valid and active in the upcoming sessions, noting that failing to achieve the required breach might force the price to provide negative trades that target testing 17.00 areas and might extend to 16.50 before any new attempt to rise.

The expected trading range for today is between 17.10 support and 17.60 resistance.

The expected trend for today: Bullish