FX.co ★ Daily analysis of Silver for September 04, 2015

Overview

Silver price continues fluctuating around the 14.70 level, pointing to the fact that the daily candlestick close was below the mentioned level, which keeps the negative scenario valid until now, waiting to visit 13.50 followed by 12.80 on the near-term basis. We remind you that breaching the 14.70 level will lead the price to rise and test the bearish channel's resistance around 15.30 before any new attempt to resume the bearish bias. The price needs negative motive that supports the chances for heading towards 13.50 then 12.80 on the near-term basis.