Daily analysis of Silver for November 09, 2015 Market Analysis Review

Overview

According to the H4 chart, silver price showed a impulsive breakout of the key support at 14.85 and settled below it, which reinforces our expectations of continuing bearish trend in an upcoming period. The way to the level of 13.96 is open now. Currently, stochastic might push the price to the broken support before resuming the suggested bearish trend, which found continuous support at the EMA 50. Noting that breaching the level of 14.85 will stop the suggested decline and help the price recover attempts. Targets are seen at 15.40 extanding to 15.85.

WE expect a trading range between support of 14.00 and resistance of 15.00 today.

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 November 09, 2015 . Thanks for your support.