Capital Trust
Capital Trust

Oct 28, 2016

08:32 PM EDT

  • New York close
  • London close
  • Tokyo open
  • Sydney open
Market Analysis

Home » Featured » Silver, Technical Analysis for December 03, 2015

Silver, Technical Analysis for December 03, 2015

Posted by FXTimes in Featured - December 2nd, 2015 6:25 am GMT

The daily chart setup has been presented here, which indicates that the drop from $16.30 levels might be coming to an end around $13.90 and a pullback could be in the making. It might be too early to predict that a pullback is underway but the appearance of a bullish morning star candlestick pattern does give a hint towards it. Another divergence scenario has happened when Gold made fresh lows on November 27, 2015 and Silver was holding its previous lows at $13.90.Bulls might just be carving out a potential rally till prices remain broadly above the $13.90 levels. Immediate interim support is at $13.90 levels, while resistance is seen through $14.45/50 levels respectively. This pullback rally is materialized, has got potential to push through $15.00 levels in the sessions to come. Also the RSI is just turning north from 30 levels, which indicates a potential rally ahead.
Trading recommendations:
Flat for now, watching to go long.

Share!Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

No comments yet.

You must be logged in to post a comment.

Forex, Commodities, Indices

Daily Updates

Daily Updates

Get the latest fundamental analyses, technical analyses and the most up-to-date Forex news catered to your interests, everyday.