FX.co ★ Daily analysis of Silver for February 28, 2018

Overview

Silver traded with an obvious downward bias yesterday. Now silver is aiming to reach the key support 16.25. As we mentioned in our recent articles, holding above this level keeps the bullish scenario valid for the short term. The next main target is set at 17.43. Therefore, we still suggest the bullish trend on the intraday and short-term basis. Breaching 16.70 will ease the mission of achieving the mentioned target. Please note that breaking 16.25 will push the price to test 15.49 areas before any new attempt to rise. The expected trading range for today is between 16.20 support and 16.70 resistance.