FX.co ★ Daily analysis of Silver for June 28, 2016

Overview

The sideways range dominates. The silver price continues fluctuating around 17.75 levels. Stochastic gradually heads towards the oversold areas to support the chances of resuming the bullish trend in the upcoming sessions. Therefore, we still expect the bullish trend on the intraday and short-term bases, which gets continuous support by the EMA50. Positive targets begin by breaching the 18.00 barrier to open the way to 18.63. Holding above 17.00 levels represents the key condition to achieve the awaited targets.

The expected trading range for today is between the 17.50 support and the 18.63 resistance.