Overview
The silver price has been showing slight bearish bias since morning, testing the 16.00 level. Stochastic gets rid of its negativity and gains positive momentum in the four-hour time frame, thus keeping the bullish trend scenario valid for today. The price is likely to test the 16.35 level initially. We remind that a breach of the targeted level will extend the bullish wave to 17.08, while the price needs to settle above 15.30 to keep chances of achieving the suggested targets.
The expected trading range for today is between the 15.70 support and the 16.50 resistance.
