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Silver Daily Technical Analysis | 27 December 2017

2017-12-27 09:05 am | Resource: Technical Analysis Section | No Views : 285

US silver broke the minor bearish trend line last Friday and broke the 16.25 level and is currently facing a resistance area of ​​$ 16.59 as well as the neckline resistance of the negative head and shoulders pattern.

Silver Daily Technical Analysis | 27 December 2017

Silver is trading in a minor ascending direction forming over the 4-hour interval, and the SMA and the Slow Moving Average are positively cross which supports buyers.
Momentum Relative Strength 14 is trading in a bullish trend in formation above the 70 level, which indicates that bulls control the commodity strongly.
It is expected that, in the event of a breach of silver level 16.59 may target areas of 16.84 while, in the case of failure to break the neckline of the head and shoulders model may target the level of 14.92.
Support: 16.25 -15.66 - 15.27
Resistance: 16.59 - 16.84 - 17.35
Trend: Up

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