Silver price heads towards the resistance – Analysis - 17-08-2018

Silver price fluctuates within sideways track after the rise that it witnessed yesterday, to remain stable inside the bearish channel that appears on the chart, which its resistance line located at 15.00, as the EMA50 meets this resistance to add more strength to it, while stochastic provides negative signals now.

Therefore, these factors support the chances of resuming the bearish trend in the upcoming sessions, which its next target located at 14.15, noting that breaching 15.00 will push the price to test the most important resistance to the short term trading at 15.50 before turning back to decline again.

Expected trading range for today is between 14.25 support and 14.80 resistance.

Expected trend for today: Bearish