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28.10.201617:19 Forex Analysis & Reviews: Daily analysis of silver for October 28, 2017

Long-term review

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Overview

Silver price shows more fluctuation around the EMA50, and we are still waiting to breach 17.80 level to ease the mission of resuming the main bullish trend. It stopped recently for some bearish correction which is depicted on the chart above. Therefore, the bullish trend scenario will remain valid for the upcoming period unless the 17.43 level is broken. Please note that our first main target is located at 18.30, while breaking 17.43 level represents negative factor that will push the price to visit 16.56 areas before any new attempt to rise. The expected trading range for today is between 17.43 support and 17.95 resistance.

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