Technical analysis:
Silver has been trading upside this morning but I found rejection of the resistance at $24.66, which is good sign for the potential drop.
Due to the downside trend in the last few days and the rejection of the resistance, I see potential for the further drop towards lower reference.
Downside objectives are set at the price of $24.42 and $24.25
Stochastic oscillator is showing overbought condition and fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of $24.66
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Silver
has been trading
upside this morning but I found rejection of the resistance at
$24.66,
which is good sign for the potential drop.
Due
to the downside trend in the last few days and the rejection of the
resistance, I see potential for the further drop towards lower
reference.
Downside objectives are
set at the price of $24.42
and $24.25
Stochastic
oscillator is showing overbought condition and
fresh downside cross, which is another good sign for the further
downside movement.
Key
resistance is set at the price of $24.66
The material has been provided by InstaForex Company – www.instaforex.com
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