Silver tests the moving average – Analysis - 07-12-2018

Silver price tested the EMA50 that forms good support at 14.35 but without managing to hold below it, noticing that stochastic shows overbought signals now, waiting to motivate the price to resume the negative attempts and target 13.93 level that represents our next main station.

In general, the bearish trend scenario will remain valid for the upcoming period unless we witnessed clear breach and hold above 14.73.

Expected trading range for today is between 14.25 support and 14.60 resistance.

Expected trend for today: Bearish