Daily analysis of Silver for January 11, 2016 Market Analysis Review

Overview

The silver price continues fluctuating around the EMA50, and the price is still inside the sideways range that appears on the chart above. Its lines are represented by the 13.65 support and 14.25 resistance, noticing that positive Stochastic contradicts the negative pressure exerted by the EMA50. In general, we still suggest sideways trading on an intraday basis until the price manages to breach one of the mentioned levels. Breaking the 13.65 support will push trading to visit 13.00 as the first main target, while breaching the 14.25 level will push the price to test the 15.30 level mainly. The silver price did not show any strong moves to continue fluctuating around the 13.96 level since morning; thus, there is no change in the sideways trading scenario that confined between 13.65 support and 14.25 resistance, waiting to breach one of them in order to detect the next destination clearly.

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