Silver price loses momentum – Analysis - 29-04-2019

Silver price breached the bearish channel’s resistance and settled above it, but we notice that stochastic shows overbought signals now, which forms negative motive that we are waiting to press on the price to resume the main bearish trend, which might be preceded by some temporary rise to test the most important resistance at 15.22.

Therefore, the bearish trend will remain valid and active unless the price rallied to breach 15.22 and hold above it, noting that we are waiting to visit 14.73 level as a next main station.

The expected trading range for today is between 14.80 support and 15.15 resistance.

The expected trend for today: Overall Bearish