05.07.201618:29 Forex Analysis & Reviews: Daily analysis of Silver for July 05, 2016

Long-term review

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Overview

The silver price ended yesterday's trading above the 20.00 barrier to build a new support base above this level that reinforces the continuation of the bullish trend scenario on the short- and mid-term bases. Besides, the EMA50 continues providing support to the price from below, and the price is likely to head towards 22.00 followed by 22.40 levels mainly. We remind you that the expected bullish rally is affected by the completion of the inverted head and shoulders' pattern, while the suggested bullish trend will remain active unless breaking the 18.63 level and holding below it. The expected trading range for today is between the 19.70 support and the 21.50 resistance.

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