Overview
The silver price attempted to breach the 13.96 level yesterday without holding above it in order to keep the negative pressure valid on an intraday and short-term bases. The price was supported by the EMA50, waiting for resuming the bearish wave that will target 13.50 and then 13.00. We remind you that breaching the 14.25 level and holding with a daily close above it will stop the negative expectations and lead the price to turn its intraday trend to the upside. The silver price continues maneuvering around the 13.96 level as the EMA50 meets this level to add more strength to it, which keeps our bearish overview valid for the upcoming period. It targets 13.50 followed by 13.00 initially, reminding you that holding below 14.25 represents the main condition to achieve the targets.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of Silver for January 05, 2016 . Thanks for your support.
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