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    Daily analysis of Silver for March 23, 2016 2016-03-23

    SILVERH4.png

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    Overview

    The silver price broke the 15.70 level and closed the last four-hour candlestick below it. It had a negative impact on the double-top pattern that appears in the image and opened the way to further decline on the intraday basis. Therefore, we expect the bearish bias temporarily for the rest of the day. The target is testing the 15.30 level before it rebounces higher and resumes the main bullish trend. A breach of the15.70 level will stop the current negative possibility and lead the price to regain its bullish track.

    The expected trading range for today is between 15.30 support and 16.00 resistance.


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