Silver price attempted to breach 16.96 level but it returns to settle below it, which keeps the bearish trtend scenario valid and active for the upcoming period, waiting to surpass the EMA50 to reinforce the chances of heading towards our main expected target at 16.33.
We should note that breaching 16.96 will stop the expected decline and lead the price to achieve gains that reach 17.60.
The expected trading range for today is between 16.50 support and 17.10 resistance.
The expected trend for today: Bearish