Silver price attempts to breach – Analysis - 26-07-2018

Silver price tested the bearish channel’s resistance that appears on the chart and attempts to move above it now, but we will depend on the daily candlestick close below this resistance at 15.60 to keep our bearish overview on the intraday and short term basis, supported by stochastic approach to the overbought areas, waiting to rebound bearishly to head towards 14.77 areas mainly.

Note that the stability above 15.60 will stop the expected decline and push the price to head towards 16.05 followed by 16.56 levels as initial main stations.

Expected trading range for today is between 15.30 support and 15.80 resistance.

Expected trend for today: Bearish