InstaForex - Analytics

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    Daily analysis of SILVER for February 17, 2016 2016-02-17

    SILVERH4.png

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    Overview

    The silver price shows bearish bias to approach from testing the critical support at 15.15, which represents one of the next trend keys besides the 15.70 resistance, where the price needs to surpass one of these levels to detect the next trend clearly. Note that breaching 15.70 levels will make the price exceed its target and reach up to 16.35; while breaking 15.15 represents the first negative key for regaining the main bearish track. Therefore, we will keep our neutral attitude until getting clearer signals for the next trend. To recognize the expected targets from the breach, please see our morning report. The expected trading range for today is between 14.67 support and 15.70 resistance.


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