Daily analysis of Silver for January 27, 2016 Market Analysis Review

Overview

According to the attached H4 chart, the silver price has managed to breach the sideways range's resistance level at 14.40 and closed yesterday's trading above it. This activated the correctional bullish scenario on an intraday and short-term bases, opening the way towards targets at 14.67 and 15.30. Therefore, the bullish trend will be preferred in the upcoming sessions, supported by the EMA50. Breaking the 14.27 level will stop the suggested rise and put the price under negative pressure.

The expected trading range for today is between the 14.20 support and 15.00 resistance.

The material has been provided by InstaForex Company - www.instaforex.com

For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of Silver for January 27, 2016 . Thanks for your support.