Quick Technical Overview - SILVER: nearest support to be broken for the bearish breakdown

Quick Technical Overview - SILVER: nearest support to be broken for the bearish breakdown

16 September 2015, 15:11
Sergey Golubev
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680

Ichimoku analysis.
Weekly price is on bearish market condition for the breakdown which was started in the beginning of July this year: the price crossed 15.64 support level to 13.96 as the next bearish target. Chinkou Span line is indicating for the bearish breakdown to be continuing. Absolute Strength indicator is estimating the secondary ranging to be started in the next future.



Pivot Points.
The price broke yearly Central Pivot together with descending triangle pattern from above to below for the bearish breakdown to be continuing. Intermediate support level in this case is 13.96 with S1 YR1 Pivot at 12.66 as the next target. If the price breaks 13.96 from above to below on close weekly bar so the bearish breakdown to be continuing up to S1 YR1 Pivot at 12.66.

InstrumentS1 Pivot
Yearly PP
R1 Pivot
XAG/USD
12.66
17.41
20.45
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