Overview
The silver price retested 15.70 levels and traded steadily above it showing some bullish rebound signals now supported by stochastic positivity. It underpins the continuation of the bullish trend that moves inside the bullish channel depicted in the image; its next target is located at 16.35. Therefore, our bullish overview will remain valid for the upcoming period. A breach of the 16.35 level will extend the bullish wave towards 16.65 followed by 17.08 on the near-term basis. Keep in mind that holding above 15.70 and, most important, above 15.00 is needed to achieve the awaited targets.
We expect the trading range for today to be between 15.60 support and 16.35 resistance.
