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| Technical Analysis for Silver 16-7-2015 |
Silver moved yesterday in the average movement of 38 cent, its highest level at 15.37 and the lowest price at 14.98 and closed at 15.05 to Lose 28 Cent according to yesterday’s economic data.
Silver opened today's trading at 15.09 volatile between 15.01 and 15.12 during the Asian session trading at 11 cents for the poor liquidity in the market range, and the gold fall down to 14.99 in the European session.
Silver moves in a series of down correction waves
We saw the silver achieved our target at 15.12
It is expected that the silver is heading targeting 14.70 as the target on time frame of four hours and till now we see the Bears control on market direction
And the Relative Strength Indicator "RSI" show us distribution operations at the market
Today we could see sharp trading because of the economic data from USA
Support levels: 14.89 and 14.74 and 14.50
Resistance levels: 15.28 and 15.52 and 15.67
For More Technical Outlook FxStations
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