Silver price continues to rise gradually approaching the previously broken support level of 14.70 that turned into resistance now. It was met by the EMA50 to add more strength accompanied by stochastic in the overbought areas. Therefore, these factors encourage us to keep our bearish overview for the upcoming period, waiting a visit to 13.50 followed by 12.80. Note that the continuation of the bearish trend depends on holding below 14.70 and the most important 15.50.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Silver price continues to rise gradually approaching the previously broken support level of 14.70 that turned into resistance now. It was met by the EMA50 to add more strength accompanied by stochastic in the overbought areas. Therefore, these factors encourage us to keep our bearish overview for the upcoming period, waiting a visit to 13.50 followed by 12.80. Note that the continuation of the bearish trend depends on holding below 14.70 and the most important 15.50.
The material has been provided by InstaForex Company – www.instaforex.com
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