Silver price tests the moving average – Analysis - 20-09-2019
Economies.com
2019-09-20 05:04AM UTC
Silver price shows bullish bias to test the EMA50, which forms continuous negative pressure against the price, accompanied by stochastic loss to the positive momentum and reaching the overbought areas, which forms negative motive that we expect to push the price to resume the bearish trend, which its targets begin by breaking 17.60 to confirm rallying towards 16.95 as a next station.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallie to breach 18.40 level and hold above it.
The expected trading range for today is between 17.50 support and 18.05 resistance.
The expected trend for today: Bearish
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