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Silver Daily Technical analysis | 6 July 2017

2017-07-06 08:00 am | Resource: | No Views : 294

Silver prices are still in a bearish direction, and the decline continued until the price broke the support at 16.06 which turned into resistance to the current prices which are likely to lead to targeting new bearish levels.
Silver trades below the simple 20, may lead to price targeting at 15.83 which, if breached, may find a second target at 15.44 and the oscillator oscillator below 50 will have a negative trend, which raises the possibility of achieving Scenario mentioned.
The decline fails if the price rises to breach the bearish trend line, and confirmation of the stability breach at the highest resistance at 16.20 could lead to silver targeting resistance at 16.37.
Support: 15.83 - 15.44 - 14.88.
Resistance: 16.06 - 16.20 - 16.37.
Trend: bearish.

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