FX.co ★ Daily analysis of Silver for September 02, 2015

Overview

Silver price remains stable below the 14.70 level, where the EMA50 continues forming negative pressure against the price, while stochastic heads towards the downside in the four-hour time frame. Therefore, we keep preferring the bearish trend on the intraday and short-term basis organized within the bearish channel that appears in the image, and the targets begin at 13.50 then 12.80, where its continuation conditioned by holding below 14.70 and, most important, below 15.40.

Silver price did not show any strong move since morning to keep its stability below the 14.70 level; therefore, we keep preferring the bearish trend in the upcoming period supported by the EMA50, waiting for targeting levels that begin at 13.50 and extend to 12.80.