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

Overview

Silver price has settled at the key resistance of 17.43, and the metal is showing sideways trading in an attempt to get rid of its negative momentum. Silver aims to gather enough positive momentum so that the price is pushed to breach the mentioned level. Now we are waiting until the bullish wave is extended to reach 18.30 as the next main station. In general, the bullish trend will remain valid for the upcoming period unless breaking 17.00 followed by 16.56 levels and holding below them. The expected trading range for today is between 17.20 support and 17.60 resistance.