FX.co ★ Daily analysis of Silver for December 26, 2017

Overview

Silver price tests the resistance line that appears on the chart, moving near the most important resistance at 16.56, noting that the EMA50 meets this level to add more strength to it, while stochastic continues to move at the overbought areas. Therefore, these factors support the continuation of the bearish trend scenario that its main target located at 15.49, noting that breaching 16.56 will lead the price to start recovery attempts and regain the main bullish trend again. The expected trading range for today is between 16.10 support and 16.50 resistance.