FX.co ★ Daily analysis of Silver for March 07, 2017

Overview

Silver price trades with calm negativity in its way to head towards our waited target at 17.43. We remind you that we are waiting for a bullish rebound after testing the mentioned level. Here stochastic reaches the thresholds of the oversold levels to support the expected rebound. Therefore, the bearish bias will remain preferred for today, unless breaching 18.30 level and holding above it. There this breach will push the price to regain the bullish track with its next main target located at 19.38. The expected trading range for today is between 17.43 support and 18.00 resistance.