FX.co ★ Daily analysis of Silver for January 30, 2017

Overview

Silver price bounced strongly to the upside after approaching 16.56 level. The matel is expected to resume the main bullish track approaching our first target at 17.43. We are waiting until the metal breaches this level to confirm the way towards 18.30 as a next main station. Therefore, our bullish overview will remain valid and active in the upcoming period supported by the EMA50, on condition the price stays firmly above 16.56 level. The expected trading range for today is between 16.90 support and 17.43 resistance.