Silver price hits the target – Analysis - 01-10-2019

Silver price succeeded to hit out waited target at 16.96 and presses negatively on it, showing that the way is open for continuing the decline in the upcoming sessions, in its way to target 16.33 level as a next station.

Therefore, the bearish trend will remain the dominant if the price settled below 17.60, being aware that the price completed forming a double top pattern that might push the price to achieve more of the downside moves on the short and medium term basis.

The expected trading range for today is between 16.50 support and 17.20 resistance.

The expected trend for today: Bearish