Daily analysis of Silver for October 19, 2015 Market Analysis Review

Overview

SSilver price fluctuates near the critical resistance level at 15.85, waiting for a breach to ease resuming the bullish trend, which got continuous support from the EMA 50, reminding you that our next target is seen at 16.30 and then at 16.85. In general, the positive scenario will remain valid and active unless the level of 15.40 gets broken. The price is holding below it, pointing that stochastic gains positive momentum gradually to reinforce the bullish track expectations. Nevertheless, silver is still trading above 38.2% Fibonacci at 15.42 and above moving averages, which contradicts with the downside tendencies seen after touching the levels of 16.00.

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