Silver below the moving average – Analysis - 24/10/2014
Economies.com
2014-10-24 04:55AM UTC
Silver price shows sideways trading since yesterday, keeping its stability below the previously broken support that turns into resistance now at 17.35, as the EMA50 meets this level to add more strength to it, while stochastic approaches the overbought areas.
These factors encourage us to continue suggesting the intraday bearish trend, which targets 17.00 followed by 16.65 levels mainly, while it remains valid unless breaching 17.35-17.45 levels were breached and the price hold above them.
Expected trading range for today is between: 16.65 support and 17.65 resistance.
Expected trend for today: Bearish
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