The silver price showed negative trading yesterday. Our first main target is at 13.96. We expect a stronger decline on an intraday and short-term bases supported by the negative pressure by the EMA50. Breaking the mentioned level will extend the bearish wave to 13.50 followed by 13.00. Therefore, the bearish trend scenario will remain valid and active for the upcoming period unless we witnessed a clear breach and holding with a daily close above 14.85. Breaking the mentioned level will open the way towards 13.50 then 13.00, conditioned by holding below the 14.85 level.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
The silver price showed negative trading yesterday. Our first main target is at 13.96. We expect a stronger decline on an intraday and short-term bases supported by the negative pressure by the EMA50. Breaking the mentioned level will extend the bearish wave to 13.50 followed by 13.00. Therefore, the bearish trend scenario will remain valid and active for the upcoming period unless we witnessed a clear breach and holding with a daily close above 14.85. Breaking the mentioned level will open the way towards 13.50 then 13.00, conditioned by holding below the 14.85 level.
The material has been provided by InstaForex Company – www.instaforex.com
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