The silver price crawls downwards gradually to test the key support at 13.96, as the EMA50 places the price under negative pressure. Stochastic shows positive signals now that might help to protect the mentioned support. Therefore, this contradiction of the technical factors makes us stay aside temporarily in order to monitor the price behavior according to the key levels represented by the 13.96 support and 14.20 resistance, as breaking the mentioned support represents the key of resuming the main bearish trend. Its next targets located at 13.50 and followed by 13.00, while breaching 14.20 will push the price to test 14.85. The silver price trades with clear negativity to attack the 13.96 level, and we need to get a daily close below this level to confirm the continuation of the bearish trend in the upcoming period, which makes us continue with our neutrality until the price confirms breaking of the mentioned level or breaching the 14.20 resistance. To find out more about the expected targets after the breach, please look my morning report.
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
The silver price crawls downwards gradually to test the key support at 13.96, as the EMA50 places the price under negative pressure. Stochastic shows positive signals now that might help to protect the mentioned support. Therefore, this contradiction of the technical factors makes us stay aside temporarily in order to monitor the price behavior according to the key levels represented by the 13.96 support and 14.20 resistance, as breaking the mentioned support represents the key of resuming the main bearish trend. Its next targets located at 13.50 and followed by 13.00, while breaching 14.20 will push the price to test 14.85. The silver price trades with clear negativity to attack the 13.96 level, and we need to get a daily close below this level to confirm the continuation of the bearish trend in the upcoming period, which makes us continue with our neutrality until the price confirms breaking of the mentioned level or breaching the 14.20 resistance. To find out more about the expected targets after the breach, please look my morning report.
The material has been provided by InstaForex Company – www.instaforex.com
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