FX.co ★ Daily analysis of Silver for February 12, 2016

Overview

The silver price succeeded to get a daily close above 15.70 levels, receiving positive motive that supports the continuation of the expected bullish trend on the intraday and short-term basis, which next target are located at the previously recorded top of 16.35. Thus, we will keep our expectations for a higher rise for the upcoming period. Stochastic negativity interprets the reasons for the negative trading that the price shows by today's opening. In general, the chances will remain valid to achieve the mentioned levels unless breaking 14.67 level and holding below it.

The expected trading range for today is between 15.00 support and 16.00 resistance.