Silver returns to negativity – Analysis - 03/09/2014

Silver price broke the minor ascending channel’s support line mentioned yesterday, to fluctuate within the falling wedge again, while the price is facing a contradiction between the technical indicators between the EMA50 negativity and stochastic positivity, thus, we expect to witness sideways trading in the upcoming period between 19.00 support and 19.40 resistance until the price manages to breach one of them, as breaking the mentioned support will push the price to test 18.60 level mainly, while breaching the resistance forms a good positive factor that supports the attempts to regain the bullish trend again.

Expected trading range for today is between: 18.60 support and 19.70 resistance.

Expected trend for today: Sideways