FX.co ★ Daily analysis of Silver for April 12, 2017

Overview

Silver price has been hovering near 18.30 since morning. The price needs to gain enough momentum to continue the main bullish trend. So, the positive scenario is active for today, trading is organized within the bullish channel that the metal has been following since the end of the last year. Therefore, the bullish bias will remain preferred on the intraday and short-term basis. Let me remind you that breaking 18.30 and holding below it might push the price to test 17.43 level before any new attempt to rise. The expected trading range for today is between 18.10 support and 18.60 resistance.