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    Daily analysis of Silver for October 23, 2015

    SILVERH4.png

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    Overview

    The silver price hovers around the 15.85 level and the EMA50, showing positive attempts to trade above the mentioned level, reinforcing the expectations of continuing the bullish correctional trend, waiting to visit 16.30 followed by 16.85 in the upcoming period. The price might witness some temporary sideways fluctuation affected by stochastic current negativity, but in general, the positive scenario will remain valid and active unless breaking the 15.40 level and settling with a daily close below it. Therefore, the positive scenario will remain valid and active if the price settled above the 15.40 level, supported by the EMA50.

    Expected trading range for today is between the 15.40 support and 16.30 resistance.


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