17.09.201509:10 Forex Analysis & Reviews: Technical analysis of Silver for September 17, 2015

Long-term review

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Technical outlook and chart setups:

Silver is seen to be testing $15.00 again together with the 50-day moving average resistance line. Please note that the trend line and fibonacci 0.618 resistance is also just around the levels of $15.00/10. Bears are expected to remain in control until prices stay below $15.60 at least. It is hence recommended to remain short for now with risk at $15.60. Immediate support is seen at the levels of $14.00, followed by $13.00, $12.00, and lower while resistance is seen at $15.60 followed by $16.40, $17.50, and higher.

Trading recommendations:

Remain short for now, stop at $15.50/60, a target is open.

Good luck!

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