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Daily analysis of Silver for June 30, 2016

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Overview

The silver price has been trading sideways since morning. Meanwhile, stochastic begins to overlap positively on the intraday time frames, supporting the chances of resuming the main bullish trend that is forming within the bullish channel shown in the image. We are waiting for the price to test the 18.63 level that represents our next main target. Therefore, the bullish trend scenario will remain valid and active for today supported by the EMA50 and conditioned by holding above 18.00 and, most important, above 17.45 levels.

The expected trading range for today is between the 18.00 support and the 18.80 resistance.



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