Silver price within tight track – Analysis - 19-12-2018

Silver price shows tight range trading and settles near 14.73 level, getting continuous positive support from the EMA50, which requires being aware from the upcoming trading, especially that the mentioned resistance forms a nickline for a potential double bottom pattern, where breaching it represents a positive factor that will push the price towards 15.22 directly.

Therefore, we prefer staying aside temporarily until getting clearer confirmation signal for the next trend, which we will get it by breaching 14.73 resistance or breaking 14.55 support, pointing that breaking this level will reactivate the bearish trend scenario that its next main target located at 13.93

Expected trading range for today is between 14.45 support and 14.80 resistance.

Expected trend for today: Depends on the above mentioned levels