FX.co ★ Daily analysis of Silver for February 10, 2017

Overview

The price of silver has been providing negative trading since yesterday to approach from testing the intraday bullish channel's support, which meets the EMA50 besides 50% Fibonacci correction level at 17.43. That forms a solid support base there, accompanied by stochastic reach to the oversold areas. It is adding more strength to the mentioned support. Therefore, these factors encourage us to continue suggesting the bullish trend on the intraday and short-term basis, with its main targets begin tested at 18.30 level. While its continuation conditions are holding above 17.43. The expected trading range for today is between 17.43 support and 18.00 resistance.