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Daily analysis of Silver for November 02, 2015

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Overview

The silver price fluctuates near the critical support at 15.40, which meets the minor bearish channel's support. It forms a bullish continuation flag we wait to assist to push the price to resume the bullish correctional trend. As long as the price is above 15.40, our bullish trend expectations remain valid and active, and the targets begin at 15.85 and extend to 16.30, and then to 16.85. Stochastic shows bullish signals that support the suggested rise, pointing to the fact that breaking the 15.40 level will push the price to visit levels of 14.85 and then 13.96 on a near-term basis. Until now, we will keep the positive scenario for the rest of the day conditioned by holding above 15.40. The first target is located at 15.85. An expected trading range for today is between the 15.00 support and 16.00 resistance.



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