15.12.201518:05 Forex Analysis & Reviews: Daily analysis of Silver for December 15, 2015

Long-term review

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Overview

The silver price shows a bigger decline after confirming breaking the 13.96 level, reinforcing the negative scenario that its next targets located at 13.50 followed by 13.00, to keep the decline suggested for the upcoming sessions. The EMA50 continues to support the bearish wave organized inside the bearish channel that appears on image, which its continuation conditions holding below 13.96 and the most important below 14.30. The silver price settles near the 13.75 level, as long as the price below 13.96 and 14.30, so our bearish trend expectations will remain valid and active, supported by the negative pressure that comes from the EMA50. Our waited targets begin at 13.50 then 13.00, pointing that stochastic current positivity might push the price to retest the 13.96 level before resuming the decline.

Expected trading range for today is between the 13.40 support and the 14.00 resistance.

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