18.09.201514:49 Forex Analysis & Reviews: Daily analysis of Silver for September 18, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Overview

According to the attached chart, silver price traded positively this morning, moving from our first main target at 15.65, and the price gets support from the EMA50. To keep the bullish trend expectations valid for the rest of the day, its continuation requires holding above the 14.85 level. We remind you that breaching the 15.65 level will extend the bullish wave to 16.30 as a next main station.

Silver price achieved a clear breach to the bearish channel's resistance and settled with a daily close above it, which stops the recently suggested negative scenario and turns trading to the upside, and the positive targets begin at 15.65 and extend to 16.30.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.