Silver price tests the key support – Analysis - 22-01-2020

Silver price traded with strong negativity yesterday to break 17.90 level and touches 17.60 level direct, noticing that the price settles above this level now, witnessing oversold signals through stochastic, which supports the chances of bouncing bullishly to resume the bullish trend in the upcoming sessions.

Therefore, we suggest witnessing positive trades today, and the main waited target reaches 17.38, taking into consideration that breaking 17.60 will stop the positive scenario and press on the price to head towards 16.96 as a next negative target.

The expected trading range for today is between 17.60 support and 18.00 resistance.

The expected trend for today: Bullish