Articles
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SILVER - Weekly Report 17/11/2014
The price moved to the upside last Friday and is trading above 16.00, as we notice a positive crossover on MACD. On the graph above, the metal stabilized again above 15.65 at 200% correction, and stabilizing above it favors retesting 16.78 levels.
Of note, the overall downside move is still valid and levels 17.05 should be breached this week to extend bullishness, or we will return to negativity again if failed to breach it. From the downside, breaking 15.65 fails the downside move and brings negativity back again.
Support 16.00 15.84 15.65 15.50 15.23
Resistance 16.27 16.60 16.78 17.05 17.30
Recommendation
Positive expectations above 16.00, risk-limit below 15.65.
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