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Silver Daily Technical Analysis | 5 February 2018

2018-02-05 09:49 am | Resource: Technical Analysis Section | No Views : 314

Silver broke the $ 17.06 area and then broke the rising trend line on the 240-minute time frame and as a result of weak momentum the silver also broke the support area of ​​16.84.

Silver Daily Technical Analysis | 5 February 2018

Silver is trading in a bearish trend in formation, and the simple moving average is breaching negatively with the slow moving average, confirmed by the break of 17.07.
Momentum RSI 14 is trading in a bearish trend forming the break of the bullish trend line during Friday morning trading.
It is expected that, in the case of a break of 16.54 level silver may target areas of 15.78 6 on the other side, in the case of penetration of areas of 16.74 may target the level of 17.55.
Support: 17.35 - 16.84 -16.59
Resistance: 17.62 18.16- 18.78
Trend: Down


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