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Daily analysis of Silver for November 11, 2015

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Overview

Silver price is gradually moving towards our main long-awaited target at 13.96, showing some slight bullish bias now. Stochastic has a positive impact on the price, while the EMA50 continues to push it into the negative territory.Silver price has not shown any strong movements since morning. It is still fluctuating in a tight range around 14.50, which makes us keep our bearish trend expectations valid without any changes waiting for an opportunity to test the level of 13.96. Therefore, our bearish trend expectations remain valid and active, and its continuation requires holding below 14.85 pointing that the breakout of the level of 13.96 will extend silver losses.

Holding below 14.85 is an important condition for the continuation of the expected decline; where breaching it will push the price to recovery attempts that its main targets begin at 15.40 ehead of any new attempts to decline.



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