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| Technical Analysis for Silver 3-8-2015 |
Silver moved last Friday in the average movement of 45 cent, its highest level at 14.99 and the lowest price at 14.54 and closed at 14.71 to Lose Just 2 Cents according to Friday's economic data.
Silver opened today's trading at 14.79 volatile between 14.68 and 14.79 during the Asian session trading at 11 Cents for the poor liquidity in the market range, and in the European session the silver went down to 14.67
Silver moves in a series of down correction waves inside the parallel price channel
It is expected that the silver is heading targeting 14.45 as the target on time frame of four hours and until 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 the USA
Support levels: 14.50 and 14.29 and 14.05
Resistance levels: 14.95 and 15.19 and 15.40
More Technical Outlook FxStations
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