Silver Morning Technical Report 18/12/2014
ecPulse
2014-12-18 08:16AM UTC
The metal is trading close to 23.6% correction that is close to the key resistance level of the downside move. Breaching 16.00 at 23.6% is required to confirm extending the upside move, and without that, we won't bet on an upside move.
The negativity of Linear Regression Indicator 55 and MACD should be confirmed, whereas breaking 15.65 and stabilizing below it is significant to bet on a downside move. Hence, we prefer to remain neutral today waiting for new confirmation signals.
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