FX.co ★ Daily analysis of Silver for September 26, 2016

Overview

The silver price gradually crawls downwards approaching the support base formed above $19.38 after breaching it earlier, which is met by the EMA50 that adds more strength to it. Stochastic reaches the oversold areas. Therefore, these factors favor the bullish trend scenario in the upcoming sessions. The next main target is located at $21.12. Take into consideration that a break of $19.38 levels will push the price to $18.30 before any new attempt to rise. The expected trading range for today is between the $19.30 support and the $20.00 resistance.