Daily analysis of Silver for December 18, 2015 Market Analysis Review

Overview

Silver price bounced strongly to the downside after testing the bearish channel's resistance which appears in the chart, which supports the continuation of our bearish trend expectation in the upcoming period, supported by the EMA50, waiting for a visit to 13.50 followed by 13.00. In general, we will continue to suggest the bearish trend as long as the price is below the level of 14.15 as breaching it represents a positive factor which can lead the price to recovery attempts on an intraday and short-term basis. Expected trading range for today is seen between support of 13.40 and resistance of 14.15.

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