Silver price touches the target - Analysis - 16-12-2021

Economies.com
2021-12-16 05:24AM UTC

Silver price succeeded to touch the waited target at 21.40 and bounced upwards strongly from there, to test the intraday bearish channel’s resistance that appears on the chart, noticing that the EMA50 meets this resistance to add more strength to it, accompanied by witnessing overbought signals through stochastic.

 

Therefore, these factors encourage us to suggest the decline in the upcoming sessions, and the targets begin by testing 21.40 again, noting that breaching 22.25 will stop the expected negative scenario and lead the price to achieve additional gains that reach 22.85 followed by 23.15.

 

The expected trading range for today is between 21.50 support and 22.50 resistance.

 

The expected trend for today: Bearish

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