Silver price tests the support line formed at 22.40, and the price needs to break this level to return to the bearish channel that appears on the chart followed by reinforcing the chances of continuing the decline on the intraday basis.

Until now, we will continue to suggest the bearish trend for the upcoming period as long as 22.90 level remains intact, reminding you that our first main target is located at 21.65.

The expected trading range for today is between 22.00 support and 22.80 resistance.

The expected trend for today: Bearish

Previous Analysis

Next Analysis

Main

Forex

Indices

	Symbol	Last	Change	Chg.%
	EUR/USD	1.0170	-0.0049	0.4790%
Midday update for the EURUSD 16-08-2022
	GBP/USD	1.2102	-0.0002	0.0174%

	Silver	20.103	-0.148	0.731%

	Oil	86.716	-0.545	0.625%
Midday update for Crude oil 16-08-2022
	Brent Oil	92.34	-2.76	2.90%

	Gold	1774.355	-7.330	0.411%
Midday update for Gold 16-08-2022

Live Forex Updates

Euro declines to two-week lows on economic recession concerns

2022-08-16 09:50:42 GMT

Europe's economic sentiment swoons to 2011 lows

2022-08-16 09:36:47 GMT

Germany's economic sentiment tumbles to 2008 lows

2022-08-16 09:33:31 GMT

Dollar extends gains even after disappointing Chinese data

2022-08-15 12:48:12 GMT

Risk Disclaimer: Economies.com is a financial portal that provides news and analysis about the different financial markets. The articles that we serve on the portal depend solely on the opinion and analysis of our economists which in no way are intended to incite a visitor of the website or an investor to trade or sell/buy a certain instrument. It is the responsibility of the visitor / trader only to evaluate his trading strategies and whether he is capable of trading with taking into consideration that losing all the capital invested is a possibility. The visitor should seek an independent professional financial advisor to discuss his or her trading strategies. Moreover, the provided rates for the different instruments are indicative only and cannot be used for trading purposes. Therefore, no responsibility can be imposed on Economies.com and the company operating the portal for any loss of money that may occur to the visitor by using the website.