Silver price surpasses the first target - Analysis - 18-05-2021

2021-05-18 04:15:11 GMT (Economies.com)
 

Silver price rallied upwards strongly yesterday to succeed achieving our first waited target at 28.35 and breach it to attempt to hold above the intraday bullish channel’s resistance, which supports the continuation of our bullish overview efficiently in the upcoming period, reminding you that our next target is located at 29.00.

 

The EMA50 keeps supporting the price from below to reinforce the expectations of achieving more gains on the intraday and short term basis, noting that breaking 27.90 will press on the price to test 27.00 areas initially before any new attempt to rise.

 

The expected trading range for today is between 28.00 support and 29.00 resistance.

 

The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.1846
0.0058
0.4886%
1.3906
0.0109
0.7904%
Tadawul
10933.73
22.68
0.21%
25.011
-0.201
0.797%
72.411
0.770
1.075%
74.74
0.31
0.42%
1810.125
7.990
0.443%
 
 
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