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12.01.201817:24 Forex Analysis & Reviews: Daily analysis of Silver for January 12, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 12.01.2018 analysis

Overview

Recent trades with silver are confined within a bullish flag pattern that appears on the chart. This means that breaching 17.15 will activate the positive effect of this pattern and push the price to continue the main bullish trend. Therefore, we believe that the chances are valid to rise even higher in the upcoming sessions. We are waiting until a breach of 17.43 confirms that the price is in the way towards 18.30 in the near term. Let me reminding you that it is important to hold above 16.55, so that the price hits our suggested targets. The expected trading range for today is between 16.95 support and 17.30 resistance.

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