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

Overview

Silver price shows a slight bullish bias to approach from retesting the level of 13.96, positively influenced by stochastic that we mentioned in our last report, noticing that the indicator loses its bullish momentum accompanied by the mentioned level, which supports the chances for resuming the main bearish trend that moves within the bearish channel that appears in the image. Therefore, our bearish trend expectations will remain valid and active in the upcoming period, supported by the EMA50 which reminds us that our next targets is seen at 13.50 extending to 13.00, while achieving it conditioned by holding below 13.96 and 14.20. Holding below the levels of 13.96 and 14.20 represents the main condition for achieving the suggested targets.

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