Silver: Facing Resistance At 16.00
ICN.com | Jan 05, 2015 06:06AM ET
The bearish attempts remained limited above the key resistance of the downside move as showing on graph. Silver is now facing the resistance 16.00 at 23.6% correction as showing above, and we think the price will achieve further bullishness in case of stabilizing above the referred to 16.00.
The possibility of further positivity is valid, but the weak signals of technical indicators require not to break 16.65, as a daily closing below this support fails the upside move and triggers a bearish wave that will attempt to break 15.24 to rush to the downside around the previous bottom 14.29.
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