Daily analysis of silver for December 31, 2015

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Overview

Silver price retests the previously broken level at 13.96 where the price was affected by stochastic positivity, while the EMA50 remains pushing negatively on the intraday trading to support the continuation of the bearish bias in the upcoming period. Therefore, we will keep our bearish trend expectations on the intraday and short-term basis which depends on the stability of the daily close below 14.25, while its next targets at 13.50, then at 13.00.

Expected trading range for today is between 13.60 support and 14.25 resistance

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

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