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    Daily analysis of Silver for March 07, 2016 2016-03-07

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    Overview

    Silver price touched the 15.70 level, which represents the first target for the positive scenario that activated after breaching 15.35 level. The metal is trading with a bearish bias, and it might retest the breached level before resuming the bullish trend. Therefore, we will keep our bullish expectations for today if the price settles above the 15.30 level. Let me remind you that our extended target is to reach 16.35. Besides, we have to be aware that the continuation of the bullish trend depends on the stability above 15.30 and the most important above 14.67.

    The expected trading range for today is between 15.00 support and 16.00 resistance.


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