TechnoMeter

When a range has trapped price, the price may experience further consolidation until a break occurs and a potential trend emerges.

The upper end of the above-mentioned range is yesterday’s high of $17.62 and above this level the next resistance level are the May 3 high of $17.70, followed by the May 2 high of $18.00.



The lower end of the range is the May 4 low of $17.15. Below it, the April 27 low of $17.03 and April 25 low of $16.78 are acting as support levels.



The general tendency is for a higher than expected NFP outcome, lower unemployment rate and higher wage growth to force the Fed to raise rates, which may lift the Dollar and generate lower silver prices in anticipation of the Fed taking action.

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