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Daily analysis of Silver for November 12, 2015


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Silver price showed calm negative trading yesterday to keep crawling to the previously recorded bottom at 13.96, while the EMA50 continues to push the price to the negative territory to support the continuation of a decline in upcoming sessions. Therefore, we will keep our bearish trend expectations unless breaching 14.85 and holding above it, pointing that the breakout at 13.96 is likely to extend the bearish wave to reach 13.50 and then 13.00. Silver price continues to provide calm trading with a bullish bias since morning, where the price is influenced by stochastic, which is current positive. However, the main negative scenario remains valid as long as the price is below 14.85 supported by the negative pressure coming from the EMA50, and its main targets begin at 13.96 and extend to 13.50.

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