FX.co ★ Daily analysis of Silver for January 17, 2017

Overview

The silver price continues to move within a tight range around 16.80. Stochastic has been getting rid of its negativity gradually approaching the oversold areas. This forms a positive factor that we are waiting to make the price resume the bullish trend in the upcoming period, which next main target is located at 17.43. Therefore, our positive overview will remain active for today unless a break of 16.56 levels that will push the price to test 15.49 areas before any new positive attempt. The expected trading range for today is between the 16.56 support and the 17.20 resistance.