FX.co ★ Daily analysis of Silver for July 13, 2016

Overview

The silver price shows slight positive trades steadily above 20.00 levels as stochastic provides a positive signal on the four-hour time frame, which is likely to make the price continue the bullish trend in the upcoming period; it was affected by the completion of the inverted head and shoulders' pattern previously. The EMA50 keeps supporting the expected bullish wave, which next targets are located at 22.00 then 22.40, while its continuation is conditioned by holding above 19.35.

The expected trading range for today is between the 20.00 support and the 21.40 resistance.