FX.co ★ Daily analysis of Silver for February 22, 2017

Overview

The silver price keeps holding above the short-term bullish channel support and gets continuous positive support from the EMA50, which keeps the bullish trend scenario active in the upcoming period. The price is likely to test 18.30 initially, reminding you that a breach of this level will extend the bullish wave to 19.38. Note that a break of 17.90 levels will make the price decline temporarily to 17.43 levels before any new attempt to rise. The expected trading range for today is between the 17.80 support and the 18.30 resistance.