Silver - Technical Report
ICN.com | Oct 24, 2014 05:04AM ET
Yesterday's downside move failed to take the metal to stabilize below 17.00 levels. The price is currently trading slightly below 13% correction which is negative because the price is trading in a descending channel. We don't want to risk selling silver without confirming trading below 17.00. From the upside, we notice a significant resistance at 17.80 among other which makes Risk/Reward Ratios inappropriate to bet on an upside move.
Therefore, we remain neutral intraday today waiting for new confirmation signals.
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