Technical analysis of Silver for December 15, 2015
December 15, 2015 7:30 am
Technical outlook and chart setups:
Silver continues moving in the downtrend hitting lower lows and lower highs. A low of $13.63 was reached yesterday. The metal needs to move above at least $14.00 and $14.60 subsequently to confirm that bulls are back in control. It is recommended to remain flat now and wait for further bullish evidence. Immediate support is seen at $13.63 follower by $13.00 and lower, while resistance is seen at $14.00 followed by $14.60 and higher. A good sign is a bullish divergence appearing on the daily chart, which indicates that reversal is near.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
Silver continues moving in the downtrend hitting lower lows and lower highs. A low of $13.63 was reached yesterday. The metal needs to move above at least $14.00 and $14.60 subsequently to confirm that bulls are back in control. It is recommended to remain flat now and wait for further bullish evidence. Immediate support is seen at $13.63 follower by $13.00 and lower, while resistance is seen at $14.00 followed by $14.60 and higher. A good sign is a bullish divergence appearing on the daily chart, which indicates that reversal is near.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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