Daily analysis of Silver for April 20, 2017

SILVERH4.png

Overview

Silver price keeps its stability above the intraday bullish channel’s support. The price still needs to breach 18.30 level to confirm the continuation of the bullish trend on the intraday and short-term basis. In other words, the price needs to surpass the negative pressure that was formed by the EMA50 to ease the bearish bias and cope with the rise. Therefore, we expect the metal to trade with the upward bias in the upcoming sessions. The key target level is 19.38. We are aware that breaking 18.05 level will push the price down to 17.43 before any new bullish attempt. The expected trading range for today is between 18.00 support and 18.55 resistance.

The material has been provided by InstaForex Company – www.instaforex.com
Source: Forex Review