FX.co ★ Daily analysis of Silver for December 01, 2015

Overview

The silver price shows confined sideways trading between the EMA50 and the critical support at 13.96, waiting for breaking this level to confirm the continuation of the main bearish trend, which targets 13.50 and then 13.00 mainly. The silver price fluctuates near the EMA50, while stochastic reaches the thresholds of the overbought levels. It represents the negative factor that we wait for to boost the price to resume the bearish bias, targeting a break of the 13.96 level to open the way towards 13.50 and then 13.00.

Note that breaching the 14.35 level will push the price to test the critical resistance at 14.85 before any new attempt to decline. Holding below this level represents an important condition for the continuation of the bearish trend.