The silver price approached our first target at 13.96 yesterday, showing some slight bullish bias to hover around 14.20. So the EMA50 continues forming a resistance barrier against the price attempts. It keeps the negative scenario valid for the upcoming period, waiting to break the 13.96 level to confirm extending the bearish wave towards 13.50 followed by 13.00. The tight range controls silver trading since morning. Stochastic provides a negative signal that we should wait for the price motivation to resume the bearish trend, which encourages us to keep preferring the bearish bias in the upcoming period. Its targets will begin after breaking the 13.96 level to open the way towards 13.50. Holding below the 14.85 level represents the main condition for the downside continuation.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
The silver price approached our first target at 13.96 yesterday, showing some slight bullish bias to hover around 14.20. So the EMA50 continues forming a resistance barrier against the price attempts. It keeps the negative scenario valid for the upcoming period, waiting to break the 13.96 level to confirm extending the bearish wave towards 13.50 followed by 13.00. The tight range controls silver trading since morning. Stochastic provides a negative signal that we should wait for the price motivation to resume the bearish trend, which encourages us to keep preferring the bearish bias in the upcoming period. Its targets will begin after breaking the 13.96 level to open the way towards 13.50. Holding below the 14.85 level represents the main condition for the downside continuation.
The material has been provided by InstaForex Company – www.instaforex.com
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