Daily analysis of Silver for December 22, 2015 Market Analysis Review

Overview

Silver price closed yesterday trading above the bearish channel's resistance that appears in the image, while the price could not surpass the critical resistance barrier at 14.25, which keeps the chances valid for resuming the main bearish trend, especially that stochastic shows clear negative signals on the four-hour time frame. Thus, we keep preferring the overall bearish trend that targets 13.50 then 13.00 initially, unless witnessing a clear breach and a daily close above 14.25 level. Silver price didn't show any strong move since morning, to keep fluctuating near 14.25, therefore, there is no change on the bearish trend scenario that depends on the stability of the daily close below the mentioned level, reminding you that our next targets are at 13.50 then 13.00.

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