InstaForex - Analytics


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    Daily analysis of Silver for November 20, 2015


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    The EMA50 continues forming good resistance barrier against the silver price's attempts. It keeps the bearish bias valid on an intraday and short-term basis, waiting for testing the previously recorded low at 13.96 as a next main station. Stochastic offers a negative signal now, which supports extending of the bearish trend towards 13.50 followed by 13.00 areas. Holding below the 14.85 level is important to achieve the suggested targets. The silver price hovers around the EMA50 keeping its stability below to keep the negative pressure valid on an intraday and short-term basis. Its targets begin at 13.96 and extend to 13.50 and 13.50 on a near-term basis. In general, we will keep our bearish trend expectations unless the 14.85 level is breached.

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