FX.co ★ Daily analysis of Silver for June 29, 2016

Overview

The silver price rallied upwards strongly this morning breaching 18.00 levels and settled above it, which supports the continuation of our bullish overview for the upcoming period; the way is open to head towards 18.63 as a next main target. Therefore, we expect the continuation of the bullish bias on the intraday and short-term bases supported by the organized trading inside the bullish channel shown on the chart. Holding above the support base formed by 18.00 is considered the key condition to the continuation of the bullish momentum for today. The expected trading range for today is between the 17.50 support and the 18.63 resistance.