Technical Analysis for Silver 7-7-2015

Technical Analysis for Silver 7-7-2015

Silver moved yesterday in the average movement of 32 cent, its highest level at 15.84 and the lowest price at 15.52 and closed at 15.69 to Lose Just 1 Cent according to yesterday’s economic data.

Silver opened today's trading at 15.69 volatile between 15.64 and 15.71 during the Asian session trading at 7 cents for the poor liquidity in the market range, and in the European session the pair went down to 15.60

Silver moves in a series of down correction waves

It is expected that the silver is heading targeting 15.36 as the target on time frame of four hours and till now we see the Bears control on market direction

And the Relative Strength Indicator "RSI" show us distribution operations at the market

Today we could see sharp trading because of the economic data from USA

Support levels: 15.52 and 15.36 and 15.20

Resistance levels: 15.84 and 16.00 and 16.16

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