12:04 PM
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| Technical Analysis for Silver 8-7-2015 |
Silver moved yesterday in the average movement of 106 cent, its highest level at 15.71 and the lowest price at 14.65 and closed at 15.00 to Lose 68 Cent according to yesterday’s economic data.
Silver opened today's trading at 15.03 volatile between 14.87 and 15.03 during the Asian session trading at 16 cents for the poor liquidity in the market range, and in the European session the pair went down to 14.75
Silver moves in a series of down correction waves
We saw silver achieved our target yesterday at 15.36
It is expected that the silver is heading targeting 14.50 as the target on time frame of four hours and till now we see the Bears control on market direction
And the Relative Strength Indicator "RSI" show us distribution operations at the market
Today we could see sharp trading because of the economic data from USA
Support levels: 14.53 and 14.06 and 13.47
Resistance levels: 15.59 and 16.18 and 16.65
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