(07 AUGUST 2017)SILVER (in USD):Short-term bullish momentum is fading.

(07 AUGUST 2017)SILVER (in USD):Short-term bullish momentum is fading.

7 August 2017, 13:50
Jiming Huang
0
21

sl


Short-term bullish momentum is fading.

(Yann Quelenn)

• Silver's bullish pressures have faded after the 

commodity reached hourly resistance at 16.94 

(02/08/2017 high). The commodity has broken 

hourly support at 16.25 (25/07/2017 low). 

Expected to continue pushing lower. 

• In the long-term, the death cross indicates that 

further downsides are very likely. Resistance is 

located at 25.11 (28/08/2013 high). Strong 

support can be found at 11.75 (20/04/2009).

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