FX.co ★ Daily analysis of SILVER for October 06, 2015

Overview

The silver price shows some slight bullish bias in attempt to resume the bullish correctional trend, which gets a good boost after breaching 15.40 yesterday, besides the continuous support that comes from the EMA50. The metal managed to breach the 15.40 level. It confirms the suggested bullish correctional trend continuation in our last reports, which target 15.85 then 16.30 in the upcoming sessions. The EMA50 continues supporting the suggested bullish wave, being aware that breaking the 15.40 level might put the price under negative pressure and might bring a potential visit to the 14.85 level before any new attempt to resume the expected bullish bias.