FX.co ★ Daily analysis of Silver for February 24, 2017

Overview

The silver price managed to hit our initial main target at 18.30 and settled there, waiting to breach this level to confirm extension of the bullish wave to 19.38 as the next main station. The price remains within the bullish channel shown in the image, which supports expectations for more upside moves. Therefore, the positive scenario will remain valid for today conditioned by holding above 17.95 levels. The expected trading range for today is between the 18.00 support and the 18.45 resistance.