Articles
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SILVER - Weekly Report
News Date: 20/10/2014 08:19:59
Despite that the bullish wave stopped last Thursday and Friday, the metal remained stable above 38.2% correction most of the time at 1236.15 showing above. Trading above the referred to level is positive and could trigger further bullish attempts. Linear Regression Indicators and MACD are positive. RSI is trading above line 50 which forces us tothink that the price will try moving to the upside this week to test 1269.15.
From the downside, only a break below 1215.75 forces us to reconsider our positive expectations, and without that, the positive possibility remains valid.
Support 1236.15 1231.50 1226.60 1220.00 1215.75
Resistance 1240.25 1252.65 1262.00 1269.15 1274.50
Recommendation
Positive outlook above 1236.15, risk-limit below 1215.00Note: Recommendation at the top
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