FX.co ★ Daily analysis of Silver for August 03, 2016

Overview

The silver price shows slight bullish bias and approaches gradually from our first awaited target at 21.12. The price is supported by the EMA50, which increases the chances of breaching the mentioned level and opening the way to 22.00 followed by 22.40 levels on the short-term basis. Therefore, the bullish trend will remain valid and active in the upcoming sessions conditioned by the price stability above 19.38 levels. The expected trading range for today is between the 20.15 support and the 21.30 resistance.