04.01.201617:20 Forex Analysis & Reviews: Daily analysis of Silver for January 04, 2016

Overview

According to the shown H4 chart, the silver price remains stable below the 13.96 level to keep the negative pressure valid on the near-term and short-term bases supported by the EMA50. It underpins the continuation of the bearish trend in the upcoming period, waiting to head towards 13.50 followed by 13.00 as next main targets. The silver price is testing the key resistance 13.96, and as long as the price is below this level, we will continue suggesting the bearish trend on an intraday and short-term bases, supported by the EMA50, waiting to target 13.50 followed by 13.00 initially. Holding below the 14.25 level is important to achieve the suggested targets. In general, the bearish trend will remain valid and active unless we witness a clear breach and holding with a daily close above the 14.25 mark.