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Daily analysis of SILVER for August 13, 2015

SILVERH4.png

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Overview

According to the attached H4 chart, Silver price shows a tight range-trading settled near 15.35 since morning, pointing that stochastic gets rid of its negativity and gains positive momentum gradually in the four-hour time frame to support the expectations of resuming the bullish trend for today, which targets the 16.05 level initially.Therefore, we will keep preferring the bullish trend unless breaking the 15.00 level and holding below it. In general, we will continue suggesting the bullish trend in the upcoming period as long as the price is above 15.00 as breaking this level will push the price to visit the key support 14.40 before detecting the next destination clearly. We expect that a trading range is between 15.00 support and 16.05 resistance for today.



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