Overview
Silver is again trading in a tight range. The metal aims to move around 17.00 level again. Please note that settling above 16.56 represents the most important condition to continue the recently suggested bullish scenario. We are waiting until the metal gains strong momentum that supports the chances of breaching 17.43 level. This will open the way to extend the bullish wave towards 18.30. Therefore, the overall bullish trend will remain valid unless breaking 16.56 level and holding with a daily close below it. The expected trading range for today is between 16.80 support and 17.20 resistance.
