Silver: Possibility Of A Downside Move
ICN.com | Jan 29, 2015 04:42AM ET
Silver prices dropped below 17.93 which extended the bearish correction, and we think the extension is valid as long as the price stabilized below 18.21. MACD is showing negative signals and RSI is showing a bearish bias that support the possibility of extending the downside move. Despite that Linear Regression Indicators are still positive but trading below Linear Regression Indiactor 34 is negative.
Hence, there is a possibility of a downside move today that will be strengthened by breaking 17.70 levels. The current downside move targets retesting 38.2% correction at 17.07.
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