FX.co ★ Daily analysis of Silver for November 27, 2015

Overview

Silver price crawls gradually to the downside to approach from 13.96 level. We are waiting for a break of the mentioned level to open the way towards 13.50 followed by 13.00. Therefore, we will continue suggesting the bearish trend on an intraday and short-term bases supported by the EMA50, unless breaching the 14.85 level and holding above it. The silver price has begun today's trading with slight bearish bias in attempt to approach the key support at 13.96. A break of it represents the key to head towards 13.50 followed by the 13.00 levels on a near-term basis.

In general, we will keep our overall bearish overview as long as the price is below the 14.85 level, noting that stochastic offers negative signals that we are waiting to form a negative motive that supports breaking the above-mentioned support line.