FX.co ★ Daily analysis of Silver for March 22, 2018

Overview

Silver price provided clear positive trading yesterday to test the key resistance 16.56 and has settled below it until now. As the EMA50 meets this level to add more strength to it, while stochastic begins to lose the positive momentum. Therefore, the bearish scenario remains valid until now unless the price managed to breach 16.56 level and hold above it. Please note that breaking 16.40 is required to confirm a further bearish trend with the next target located at 15.49. The expected trading range for today is between 16.20 support and 16.70 resistance.