Daily analysis of Silver for December 29, 2015

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Overview

Silver price shows clear bearish bias to begin pushing on the key support 13.96, and as we mentioned in our morning report, the price needs to break this level to confirm the continuation of the bearish trend in the upcoming period. Therefore, our bearish overview will remain valid and active on the intraday and short term basis as long as the daily close is stable below 14.25 level. Silver price managed to end yesterday’s trading below 13.96, which supports the chances of resuming the main bearish trend, which depends on the stability of the daily close below 14.25 level, supported by the negative pressure offered by the EMA50.

The material has been provided by InstaForex Company – www.instaforex.com

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