18.08.201516:34 Forex Analysis & Reviews: Daily analysis of SILVER for August 18, 2015

Long-term review

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Overview

According to the shown H4 chart, Silver price settles above the EMA50 waiting to resume the bullish trend on the intraday basis, which targets the 16.05 level mainly in the upcoming sessions. In general, we continue suggesting the bullish trend on the intraday basis as long as the price is above 15.00 supported by the EMA50. Breaching the 16.05 level will extend the bullish wave towards 17.10 as the next main target.

Holding above 15.00 is a key condition to achieve the suggested rise. Breaking the EMA50 might complete a negative formation that will put the price under negative pressure to stop today's suggested positive scenario.

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