FX.co ★ Daily analysis of Silver for March 09, 2018

Overview

The silver price continues to fluctuate at the bullish trend line that rises now to 16.40. Holding above this level keeps the bullish trend scenario valid on the intraday and short-term basis, while the break of this level will push the price to the 15.49 areas directly. Therefore, we still expect the bullish trend conditioned by the price stability above 16.40, noting that a breach of 16.65 will ease the mission of heading towards 17.43 that represents our next main target. The expected trading range for today is between the 16.20 support and the 16.75 resistance.