Silver price tests the resistance – Analysis - 13-11-2019

Silver price provides calm positive trades now to approach testing the resistance line formed at 16.96 after breaking it previously, while the EMA50 forms negative pressure to protect the mentioned resistance, which supports the chances of bouncing bearishly to resume the expected bearish trend for the upcoming period, which targets 16.33 level as a next station.

Therefore, we are waiting for negative trades today, taking into consideration that breaching 16.96 will push the price to achieve more intraday gains and test 17.60 areas before any new attempt to decline.

The expected trading range for today is between 16.60 support and 17.00 resistance.

The expected trend for today: Bearish