Silver price remains stable moving below the level of 14.70 today. Therefore, our bearish trend expectations remains valid and active supported by stochastic and the EMA50 negativit. The targets are seen at 13.50 and then at 12.80. The EMA50 adds more strength to the resistance, and stochastic is gradually losing its positive momentum in the four-hours time frame. All these factors encourage us to prefer the bearish trend in the upcoming period with targets at 13.50 and 12.80. We remind you that a breakout of 14.70 will enable the price to test the resistance near 15.40 before making any new attempt to decline.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Silver price remains stable moving below the level of 14.70 today. Therefore, our bearish trend expectations remains valid and active supported by stochastic and the EMA50 negativit. The targets are seen at 13.50 and then at 12.80. The EMA50 adds more strength to the resistance, and stochastic is gradually losing its positive momentum in the four-hours time frame. All these factors encourage us to prefer the bearish trend in the upcoming period with targets at 13.50 and 12.80. We remind you that a breakout of 14.70 will enable the price to test the resistance near 15.40 before making any new attempt to decline.
The material has been provided by InstaForex Company – www.instaforex.com
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