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| Technical Analysis for Silver 29-6-2015 |
Silver moved last Friday in the average movement of 39 cent, its highest level at 15.89 and the lowest price at 15.50 and closed at 15.77 to lose 5 cents According to Friday’s economic data.
Silver opened today's trading at 15.93 to make a gap with 16 cents and now the solver went down to trade now around 15.82.
Silver moves in a series of down correction waves after breaking the price channel.
The metal achieved our target at 15.70 last week.
It is expected that the silver is heading targeting 15.55 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: 15.55 and 15.33 and 15.16
Resistance levels: 15.94 and 16.11 and 16.33
For More Technical Outlook FxStations
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