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Daily analysis of Silver for December 08, 2015

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Overview

SThe silver price declined yesterday to test the EMA50 that forms a good intraday support base at 14.15, accompanied by clear positive signals through stochastic. It s supports the chances of bouncing up and resume the bullish bias that targets testing of the 14.85 level mainly. Therefore, the bullish trend will be suggested for today unless a break of 14.15 is followed by the 13.96 levels and holding below them. Remember to monitor the price behavior when reaching the targeted level because of its importance of detecting the price's next destination on a short-term basis. Our main target is located at 14.85, and a break of it will extend silver gains to reach 15.40 initially, while the bullish trend will remain valid unless a clear break and stability below 14.15 and 13.96 are seen.



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