Silver price below the moving average – Analysis - 08-08-2018

Silver price fluctuates around the EMA50, keeping its stability below 15.50 key resistance, to keep the bearish trend scenario active until now, waiting to resume the bearish bias that targets 15.10 followed by 14.77 levels as next main stations.

We remind you that breaching 15.50 will stop the expected decline and lead the price to turn to rise, to target 16.00 followed by 16.56 areas on the near term basis.

Expected trading range for today is between 15.10 support and 15.50 resistance.

Expected trend for today: Bearish