FX.co ★ Daily analysis of SILVER for February 08, 2016

Overview

The silver price returns to test 15.00 now, waiting to surpass this level in order to confirm the continuation of the bullish bias towards our next awaited target at 15.30. Therefore, the positive expectations will remain valid and active in the upcoming period, unless breaking 14.67 and then 14.27 levels and holding below them. It will put the price under negative pressure and stop the suggested bullish correctional scenario.

The expected trading range for today is between 14.50 support and 15.30 resistance.