Daily analysis of Silver for September 16, 2015 Market Analysis Review

Overview

Silver price tests the EMA50 now, accompanied by the fact that Stochastic reaches to the overbought level, which keeps the chances valid for resuming the main bearish trend, which organizes within the bearish channel that appears in the image. The metal shows sideways and tight trading settled near the 14.40 level, noticing that Stochastic loses its positive momentum gradually approaching from the overbought levels, which supports the chances of resuming the bearish trend in the upcoming period, which gets continuous support from the EMA50. Therefore, the negative scenario will remain valid and active as long as the price is below the 15.00 level, reminding you that the main targets begin at 13.50 and extend to 12.80.

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