Daily analysis of Silver for January 12, 2016 Market Analysis Review

Overview

Silver traded negatively yesterday approaching the sideways range support line, located at 13.65 and accompanied by positive signals that appear on stochastic. It might push the price to test the mentioned range's resistance in the upcoming sessions, which is located at 14.25. In general, the metal is expected to trade sideways until it manages to breach one of the above mentioned levels, reminding you that breaking 13.65 support will push the price to test 13.00 barrier directly, while breaching 14.25 level will push the price to achieve some intraday gains, its main targets begins at 15.30. Silver price didn't show any strong move since morning, to keep fluctuating below the EMA50, while the price remains confined between the sideways range's lines that represented by 13.65 support and 14.25 resistance, waiting to breach one of them to detect the next targets clearly.

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