Silver price touches the target – Analysis - 20-02-2019

Silver price succeeded to achieve our waited target at 16.00 and settles around it now, and continues to move above the bullish trend line that appears on the chart, supported by the EMA50 that keeps carrying the price from below, thus, we believe that the chances are valid to continue rising in the upcoming period, as our next target is located at 16.50.

Therefore, we are waiting for more bullish bias today, noting that failing to hold above 16.00 might push the price to test 15.62 areas before any new attempt to rise.

The expected trading range for today is between 15.90 support and 16.20 resistance.

The expected trend for today: Bullish