FX.co ★ Daily analysis of Silver for October 14, 2015

Overview

Silver price broke the level of 15.85 and closed above it. That underpinned a bullish correctional rise on an intraday and short-term basis. As the price targets the level of 16.30, a breakout above this level will extend the bullish wave towards 16.85. The price found continuous support at the EMA50, and we should n hold above the level of 15.40 to hit our targets. We expect a trading range between support of 15.40 support and resistance of 16.85 today.