Commodities

Silver price reaches the next target – Analysis - 19-07-2019

2019-07-19 04:55:38 GMT (Economies.com)

Silver price resumed its bullish rally yesterday to reach our next waited target at 16.50, noticing that the price completed forming medium term double bottom formation, which hints that the price is on its way to achieve more expected gains in the upcoming period.

 

Therefore, we are waiting to breach the above mentioned level to extend the bullish wave towards 17.30 areas mainly, noting that holding above 16.00 represents key condition to continue the expected rise.

 

The expected trading range for today is between 16.30 support and 16.60 resistance.

 

The expected trend for today: Bullish

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