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Daily analysis of Silver for March 01, 2016 2016-03-01

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Overview

The silver price has been bouncing bullishly after testing 15.00 levels this morning to keep our bearish trend expectations valid and active for the rest of the day. We are waiting for surpassing the 14.67 level to ease targeting 14.27 then 13.63 levels on the near-term basis. Holding below 15.00 levels represents an important condition for the expected decline continuation for today. Breaching these levels will push the price to 15.30 and even to 15.70 levels before any new attempt to decline. The expected trading range for today is between 14.00 support and 15.30 resistance.



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