Silver price declines strongly – Analysis - 16-08-2018

Silver price suffered sharp losses yesterday to approach our main waited target at 14.15, as it confirmed the return to the bearish channel that appears on the chart, and the price falls under negative pressure that comes by the EMA50, reinforcing the expectations of continuing the bearish trend on the short term basis.

Note that breaking the above mentioned level will push the price towards 13.75 as a next main station, whle holding below 14.80 represents the first condition to continue the expected decline.

Expected trading range for today is between 14.15 support and 14.65 resistance.

Expected trend for today: Bearish