Silver price loses momentum – Analysis - 12-10-2018

Silver price provided positive trades yesterday but its still below the key resistance 14.73, noticing that stochastic lost its positive momentum to move inside the overbought areas, which supports the chances of bouncing bearishly to resume the expected bearish trend on the intraday and short term basis, which its next target located at 13.93.

We should note that breaching 14.73 will stop the expected decline and push the price to start bullish correction that its next main target located at 15.22.

Expected trading range for today is between 14.20 support and 14.73 resistance.

Expected trend for today: Bearish