Silver price tests the resistance – Analysis - 03-10-2019
Economies.com
2019-10-03 04:49AM UTC
Silver price provided positive trading yesterday to test the critical resistance at 17.60, where it keeps its stability below this level now, the EMA50 meets this resistance to strengthen it, while stochastic shows overbought signals.
Therefore, these factors encourage us to prefer the bearish trend in the upcoming sessions, targeting testing 16.96 level as an initial station, being aware that breaching 17.60 will stop the expected decline and pushes the price to return to the main bullish track again.
The expected trading range for today is between 17.20 support and 17.80 resistance.
The expected trend for today: Bearish
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