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Daily analysis of Silver for November 05, 2015

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Overview

The silver price crawls gradually to the downside approaching the first main target at 14.85. The EMA50 continues pushing the price, thus supporting a further decline in the upcoming period. Breaking the targeted level will open the way towards 13.96 as a next main station. Therefore, the bearish trend will remain suggested on an intraday and short-term basis unless the price succeeded to breach the 15.40 level and hold above it. And the bearish trend scenario remains valid as long as the price below 15.40, supported by the EMA50. Our extended targets are to reach 13.96.



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