Overview
Silver price is showing slight negative trading, crawling calmly towards our downward target at 16.56. The EMA50 continues to push pressure on the price. So, the chances are valid that the pair is going with the decline today. Note that breaking the targeted level will push the price to incur more losses and visit 15.49 areas on the near-term basis. On the other hand, breaching 17.43 represents positive factor that will push the price to resume the bullish bias again. The upward targets are seen at 18.30 and further at 19.38. The expected trading range for today is between 16.56 support and 16.90 resistance.