Silver XAGUSD May-December 2015 Forecast: ranging bearish between 14.36 and 20.53 levels

• Tenkan-sen line is located below Kijun-sen line of Ichimoku indicator with 14.36 support level on monthly timeframe chart for the bearish market condition to be continuing.
  
• Primary bearish market condition was estimated by AbsoluteStrength indicator and Price Channel indicator with the secondary ranging.
• Monthly price is located far below Ichimoku cloud/kumo and Senkou Span A line of Ichimoku indicator for primary bearish market condition which was started in the beginning of May 2013 on close monthly bar.
  
• Chinkou Span line is located below and far from the price for any possible breakout/breakdown of the price movement in 2015.
  
• Nearest support level is 14.36
  
• Nearest resistance levels are 18.46 and 20.53
  

If MN price will break 14.36 support level on close monthly bar so the primary bearish will be continuing
If MN price will break 20.53 resistance level so we may see the market rally within the primary bearish market condition
If not so the price will be ranging between 14.36 and 20.53 levels

Trend: ranging bearish