empty
 
 
19.08.2015 03:19 PM
Daily analysis of SILVER for August 19, 2015

This image is no longer relevant

Overview

According to the attached H4 chart, Silver price broke the 15.00 level and closed the daily candlestick below it as the price completed forming a minor head and shoulders' pattern that appears on chart. It stops the recently suggested positive scenario and push the price to decline to test the 14.40 level mainly.

Therefore, the bearish bias will be suggested for the upcoming period as long as the price is below the 15.00 level supported by the EMA50, being aware that it is important to monitor the price behavior when reaching the 14.40 level as breaking it will extend silver price losses to reach 12.80 on the near-term basis.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback