Daily analysis of Silver for February 17, 2015 Market Analysis Review

Overview

According to our yesterday's expectations, the price's close below the support level of 17.00 would give new opportunities for sell signals. Currently, the metal has already managed to close below the support level to trade below and open the way towards 16.50 as the first target. Then, the metal must test the support level of 16.30, firstly, to get more bearish move untill reaching 16.00 as the second target. On the other hand, the metal's rebound from the support level of 16.30 cancels bearish scenario.

Resistance and support levels: R3 (17.00), R2 (16.75), R1 (16.50), S1 (16.30), S2 (16.00), S3(15.70).

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of Silver for February 17, 2015 . Thanks for your support.