23.11.201516:49 Forex Analysis & Reviews: Daily analysis of Silver for November 23, 2015

Long-term review

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Overview

The silver price managed to touch our first main target at 13.96, falling under continuous negative pressure provided by the EMA50, which encourages us to continue suggesting the bearish bias for the upcoming period. Breaking the mentioned level will extend the bearish wave to 13.50 followed by 13.00. The silver price pushes the critical support level at 13.96, waiting for a confirmed breakout to extend the bearish wave towards our next targets at 13.50 then 13.00. Therefore, we will keep preferring the bearish trend in the upcoming sessions if the price settles below the 14.85 level.

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