Overview

Silver price continues fluctuating near the 14.70 level settled below it. The EMA50 keeps forming negative pressure against the intraday trading, which keeps our bearish trend expectations valid until now, targeting 13.50 then 12.80 levels initially. It is important to be aware that breaching the 14.70 level will push the price to test the bearish channel's resistance at 15.53 before any new attempt to resume the bearish trend. In general, we will keep the morning suggested bearish trend scenario if the trading settle below 14.70, reminding you that our main targets are located at 13.50 and then 12.80.