Silver needs the momentum – Analysis - 11/05/2015
Silver price shows tight trading around the EMA50, and as long as the price is above 16.05 and 15.80 levels, we continue to expect the bullish trend for the upcoming period, reminding you that breaching 17.10 level will offer an important positive key to push the price towards 17.95 then 18.80 levels.
Stochastic is negative now, which might push the price to show more sideways trading until the price manages to gain enough positive momentum to push the price to resume the bullish trend again.
Expected trading range for today is between 15.80 support and 17.30 resistance.
Expected trend for today: Bullish