Silver

Silver

6 December 2017, 08:37
Dragan Drenjanin
0
36

SILVER : The bearish trend can resume
Date of analysis 06 December 17


INDICATOR
Opinion Short Term Negative
Resistance 1 17.18USD
Support 1 15.62USD
Opinion Mid Term Bearish
Support 2 15.31USD
Resistance 2 17.49USD

STRATEGY
Below 17.18 USD the major trend remains bearish 15.62 USD and then 15.31 USD are in the line of sight. The surpassing of 17.18 USD would cancel this anticipation and favor a recovery toward 17.49 USD.

SUMMARY
The MACD is negative and lower than its signal line. This configuration is damaging the cross perspectives. The RSI is not yet indicating an oversold situation, so a continuation of the fall is technically possible. At less than 20, the Stochastics are extermely low. The volumes traded are more than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The cross is oriented to the downside. It is under its 50-day moving average located at 16.92. The 20-day moving average (lower than the 50-day moving average) is maintaining the prices under medium-term sell pressure. Our first support is at 15.62 USD and the next is at 15.31 USD; the resistances, located at 17.18 USD and at 17.49 USD must be exceeded for the trend to undergo a reversal.

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