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

Overview

Silver price traded with clear positive yesterday to test the bearish channel's resistance that appears in the chart accompanied by clear negative signals coming from stochastic, which supports the chances for bouncing lower to resume the bearish trend, and its next targets are at 13.50 and 13.00. Therefore, we will keep our bearish trend expectations in the upcoming period unless breaching the level of 14.20 and holding above it. Silver price keeps its stability below the bearish channel's resistance level that appears in the chart, while stochastic keeps providing negative signals on the four hours time frame, therefore, we keep preferring the bearish trend in the upcoming period, targeting 13.50 and then 13.00, while its continuation is conditioned by holding below 14.20.

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