FX.co ★ Daily analysis of Silver for April 15, 2016

Overview

The silver price is trading sideways above the 16.00 level. The price starts moving with slight bullish bias in attempt to approach from the 16.35 level; the price is likely to breach this level to confirm the way to target the 17.08 level as the next main station. In general, we still suggest the bullish trend, unless breaking 15.70 and 15.30 levels and holding below them. Breaks of these levels are a negative factor that will push the price to attempt to return to the bearish trend on the medium-term basis.

The expected trading range for today is between the 15.70 support and the 16.60 resistance.