From the attached H4 chart, the silver price keeps fluctuating near the breached bearish channel’s resistance level, while stochastic provides positive signal now that we wait for a boost for the price to resume the bullish trend, waiting for breaching the 14.85 level to reinforce the expectations of heading towards 15.40 as the first main target. The metal remains stable above the previously breached bearish channel’s resistance level accompanied by positive signal that comes from stochastic in the four-hour time frame, which supports the chances of resuming the bearish correctional bias, and its targets begin by breaching the 14.85 level to confirm opening of the way towards achieving positive targets that reach to 15.40 then 15.85.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
From the attached H4 chart, the silver price keeps fluctuating near the breached bearish channel’s resistance level, while stochastic provides positive signal now that we wait for a boost for the price to resume the bullish trend, waiting for breaching the 14.85 level to reinforce the expectations of heading towards 15.40 as the first main target. The metal remains stable above the previously breached bearish channel’s resistance level accompanied by positive signal that comes from stochastic in the four-hour time frame, which supports the chances of resuming the bearish correctional bias, and its targets begin by breaching the 14.85 level to confirm opening of the way towards achieving positive targets that reach to 15.40 then 15.85.
The material has been provided by InstaForex Company – www.instaforex.com
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