Silver Daily Technical Analysis | 21 December 2017
2017-12-21 12:15 pm | Resource: Technical Analysis Section | No Views : 322
Our neutral view of silver is trading between 16.21 and 16.08, and the simple moving average and the slow moving average in the case of a positive cross so far.
Silver is still trading below the classical passive negative head and shoulders pattern so far on the 240-minute time frame.
Momentum RSI 14 broke the bullish trend line during yesterday's trading and currently needs to break the 56 level to reverse the trend.
It is expected that, in the case of a breach of silver level 16.25 may target areas of 16.77 on the other side in case of break 16.03 may target the level of 15.66.
Support: 15.66 - 15.27 - 14.99
Resistance: 16.132 - 16.33 - 17.35
Gold prices rose as investors shifted focus to trade negotiations between the United States and China, following a series of monetary policy decisions from central banks around the world this week. Talks between US and Chinese negotiators were held in Washington on Thursday - scheduled to end today - for the first time in two months in a bid to find common ground to pave the way for high-level negotiations…
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