SILVER Outlook for September - ranging between rally and bearish condition; 18.46 resistance for reversal

SILVER Outlook for September - ranging between rally and bearish condition; 18.46 resistance for reversal

3 September 2015, 18:11
Sergey Golubev
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1 198

W1 price is on bullish market condition with ranging between the following key levels:

  • 18.46 key resistance level located above Ichimoku cloud in the bullish area of the chart; if the price breaks this level from below to above so we may see the reversal of the price movement to the primary bullish market condition.
  • 15.64 key resistance level located near and below Ichimoku cloud for the local uptrend as the bear market rally to be started if broken.
  • 13.96 key support level located far below Ichimoku cloud for the primary bearish condition to be continuing if broken.

Chinkou Span line is below the price indicating the ranging condition by direction.

If W1 price will break 13.96 support level - the primary bearish trend will be continuing.
If W1 price will break 18.46 resistance level so the price will be reversed to the primary bullish market condition.
If not so the price will be ranging between the levels.

Trend:

W1 - ranging bearish
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