Silver price faces solid resistance – Analysis - 10-07-2020

Silver price faced solid resistance at 19.00 barrier, which pushed the price to decline and head towards potential test to the main bullish channel’s support line that appears on the chart, noticing that stochastic gains the positive momentum clearly, while the EMA50 meets the mentioned channel’s support line to protect the continuation of trading inside it.

Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which its next main target located at 19.64, taking into consideration that breaking 18.20 will stop the suggested rise and press on the price to start correctional bearish wave on the intraday basis.

The expected trading range for today is between 18.40 support and 19.00 resistance.

The expected trend for today: Bullish