InstaForex - Analytics


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    Daily analysis of Silver for November 04, 2015


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    The silver price is trading steadily below the 15.40 level. It keeps the bearish trend scenario valid for today, waiting to test the 14.85 level initially, where the EMA50 continues placing the intraday trading under pressure. We remind you that breaching the 15.40 level will lead the price to return the gains way that begin at 16.30 then 16.85. the silver price closed below 15.40 yesterday, which puts the price under negative pressure that we are expecting to push trading towards 14.85 initially. It makes us expect a bearish bias in the upcoming sessions, supported by the negative pressure provided by the EMA50. Expected trading range for today is between the 14.85 support and 15.60 resistance.

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