FX.co ★ Daily analysis of Silver for July 22, 2016

Overview

The silver price rebounded bearishly after the first test to the previously broken intraday trend line (turned into resistance now at 19.95) accompanied by the overbought signals that appear on Stochastic. This might push the price to test the key support base at 19.35 before turning back to resume the positive attempts. Until now, we still keep to our bullish overview for today unless breaking the 19.35 level and holding below it. Main targets begin at 21.08 and extend to 22.00.

The expected trading range for today is between the 19.90 support and the 20.50 resistance.