FX.co ★ Daily analysis of Silver for May 01, 2018

Overview

Silver price tested the sideways range support line at 16.15, accompanied by a stochastic's move at the oversold areas. This indicates the chances that the price will visit this range's resistance at 16.80 in the upcoming sessions. Until now, silver is still trading sideways on the intraday basis until the price manages to breach one of the above mentioned levels. Let me remind you that if support is broken, it will push the price towards 15.49 directly. On the other hand, breaching the resistance will make the price achieve upward targets from 17.43. The expected trading range for today is between 16.00 support and 16.50 resistance.