Overview
The silver price shows positive trading now. We found out that yesterday's decline stopped at the 23.6% Fibonacci level by measuring Fibonacci correction for the last rise from 13.75 to 21.08. This signals that the price has attempted to resume the main bullish trend. Therefore, we believe that the chances of positive trading on the intraday and short-term bases are relatively high; the awaited targets begin at 20.20 and extend to 22.00. A break of the 19.35 level and holding with a daily close below it will extend the bearish wave to target the 18.28 area before any new attempt to rise. The expected trading range for today is between the 18.70 support and the 20.20 resistance.
