FX.co ★ Daily analysis of Silver for August 02, 2016

Overview

The silver price shows positive attempts now supported by the positive overlapping signal generated by stochastic. This reinforces bullish trend expectations for today; we are waiting for the price to test 21.12 levels initially as its breach will lead to further gains to 22.00. Therefore, we still expect the bullish bias in the upcoming period unless there is a clear break and stability below 19.38 levels. The expected trading range for today is between the 20.00 support and the 21.30 resistance.