Silver: Stabilized At Tightest Levels Of Last Week
ICN.com | Oct 21, 2014 03:38AM ET
Silver stabilized at its tight levels of last week, and despite trading above 13% correction at 17.27, technical indicators are showing weakness. We do not want to take risks while the overall downside move is still valid, and there are no confirmation signals that the price will continue with its bullish correctional move.
From the upside, the resistance 17.80 also stops us from taking a buying position because Risk/Reward Ratios are inappropriate. Hence, we remain neutral waiting for new confirmation signals.
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