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    Daily analysis of Silver for February 03, 2016 2016-02-03

    SILVERH4.png

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    Overview

    Silver price keeps moving within tight track. As long as the price is between 13.65 support and 14.40 resistance around Fibonacci 23.6%, the sideways range will remain dominant in the intraday trading. The price needs to breach one of these levels to detect its next targets clearly on the short-term basis. Importantly, breaking 14.40 resistance will lead to further bullish correction that targets 14.67 followed by 15.30 levels mainly, while breaking 13.65 level will put the price under the main negative pressure again with the first the target at 13.00 and the next one at 12.00.

    Expected trading range for today is between 13.80 support and 14.67 resistance.


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