Silver Entering New Bearish Wave
ICN.com | Dec 30, 2014 04:38AM ET
Silverfailed to stabilize above Linear Regression Indicators and 16.00 yesterday and dropped today to trade below the latter, represented in 23.6% correction as showing on graph. In fact, the price didn't confirm failing the upside move and entering a new bearish wave, because the metal is still trading above the key resistance of the downside move. Hence, we prefer to remain neutral intraday, waiting for new confirmation signals.
Breaking 15.65 leads to dropping towards 15.24, then further towards 15.00 at least, while holding above 16.10 brings positivity back again.
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