Silver tests the support base – Analysis - 24-04-2018

Silver price opened today’s trading with strong negativity to test the key support 16.56 and begins to rebound bullishly from there, which keeps our bullish overview valid until now, as the EMA50 meets the mentioned support to add more strength to it, while stochastic attempts to get rid of its negativity.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis conditioned by the price stability above 16.56, noting that our targets begin at 17.43 and extend to 18.30 after breaching the previous level.

Expected trading range for today is between 16.50 support and 17.00 resistance.

Expected trend for today: Bullish