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    Daily analysis of Silver for February 29, 2016 2016-02-29




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    On the last Friday, the silver price traded with strong negativity trying to break the key support at 15.00 and exit the sideways range that dominated the recent trading. The price headed towards the 14.67 level in order to test it. This activates the negative scenario on the intraday and short-term basis, opening the way to extend the bearish wave to test 14.27 followed by 13.63 levels. In general, we still suggest the bearish trend as long as the price is below the mentioned level. Breaking the 14.67 level will lead the price to 14.27 followed by 13.63 as next main stations of the current bearish wave.

    The expected trading range for today is between 14.00 support and 15.30 resistance.

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