Silver price reaches the target – Analysis - 27-01-2020

Silver price succeeded to reach our waited target at 18.38, and it might witness some bearish bias affected by stochastic negativity, noticing that the EMA50 provides the positive support to the price, to support the chances of breaching the metioned level and open the way to achieve more gains in the upcoming period.

Therefore, the bullish bias will be suggested for today conditioned by the price stability above 17.95, noting that surpassing 18.38 will extend the bullish wave to reach 19.00 as a next main target.

The expected trading range for today is between 18.00 support and 18.40 resistance.

The expected trend for today: Bullish