Silver price traded negatively yesterday to break 14.70 level and settle below it, which activates the negative scenario that its would test the previously reached low at 14.36 initially. A breakout of it would represent the key to extending the bearish wave towards 12.80. The EMA50 applies negative pressure that supports an expected decline in the upcoming period, which will remain valid and active unless the price managed to breach 15.05 followed by 15.60 and hold above them.
In general, the bearish trend scenario is valid and active unless witnessing a clear breakout and stability above the levels of 15.05 and 15.60.
The material has been provided by InstaForex Company – www.instaforex.com