Silver under the negative pressure – Analysis - 09/03/2015
Silver price ended last week’s trading below 16.05 level, which confirms breaking this level and lead the price to visit areas that start at 15.00 and extend to 14.40 on the near term basis, and the price is falling under negative pressure coming from the EMA50, which supports the expectations to decline.
Note that breaching 16.05 then 16.30 levels will stop the current negative pressure and push the price to return to the bullish correctional track again, which its targets begin at 17.10 and extend to 18.80.
Expected trading range for today is between: 15.00 support and 16.30 resistance.
Expected trend for today: Bearish