Silver Morning Technical Report 31/10/2014
ecPulse
2014-10-31 08:52AM UTC
The metal dropped sharply today, and on the weekly graph we notice that the price dropped due to trading below 76.4% correction at 18.21, in addition to getting out of the sideways range 17.00 and 17.50. The downside move could extend and the metal is currently targeting 88.6% correction at 13.16 levels.
From the upside, stabilizing below 17.00 strengthens the bearish possibility, while breaking 16.00 accelerates the downside move intraday today.
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