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    Daily analysis of Silver for March 24, 2016 2016-03-24

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    Overview

    The silver price resumed its decline yesterday touching the expected target mentioned in our last report at 15.30 and trading near the bullish channel's support located now at 15.15. The support offers a positive factor that protects trading inside the mentioned channel, making us project the bullish bias in the upcoming sessions. Therefore, the bullish trend will be expected on the intraday and short-term basis unless breaking the 15.15 level and holding below it. The price is likely to head towards 15.70 followed by 16.35 levels as the next main targets of the suggested bearish wave.

    We expect the trading range for today to be between 15.00 support and 15.70 resistance.


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