Silver price loses momentum – Analysis - 05-02-2019

Silver price approached our main waited target at 15.62 and rebounds bullishly from there, on its way towards a potential test to 16.00, noticing that stochastic shows overbought signals now, to support the chances of bouncing bearishly and resume the bearish trend again.

In general, we will continue to suggest the bearish bias on the intraday basis unless breaching 16.00 and holding above it, reminding you that breaking 15.62 will press on the price to head towards 15.22 direct.

Expected trading range for today is between 15.70 support and 16.00 resistance.

Expected trend for today: Bearish