FX.co ★ Daily analysis of Silver for October 22, 2015

Overview

Silver price continues to fluctuate below 15.85. Stochastic gains positive momentum in the intraday time frames to support the chances of bouncing upwards and resume the bullish correctional trend. The price needs to breach the level of 15.85 to ease the mission of heading towards the current bullish wave targets located at 16.30 and 16.85. It is important to note that a breakout at 15.40 will put the price under negative pressure on a short-term basis.

Expected trading range for today is between support at 15.40 and resistance at 16.30.