Silver Daily Technical Analysis | 27 December 2017
2017-12-27 09:05 am | Resource: Technical Analysis Section | No Views : 285
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
Gold prices rose on Friday, a day after the European Central Bank cut interest rates for the first time since 2016, and unveiled a comprehensive stimulus package to boost growth in the troubled euro zone. US President Donald Trump said he could consider a temporary trade deal with China before high-level negotiations in October. US stocks decline in pre-market trading Wall Street stocks fell in early trade ahead of Friday…
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