Silver Wave Analysis – 14 December , 2018

Trading blog

Silver reversed from resistance area
Further losses are likely

Silver today reversed down from the resistance area lying between the key resistance level 14.80 (which has been reversing the price from the start of October), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from July.

The downward reversal from this resistance area stopped the previous short-term impulse wave C of tie medium-term ABC correction (4) from the start of September.

Silver is expected to fall further and re-test the support level 14.32 (low of the previous short-term correction (ii) from the start of December).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Next FxPro: Bitcoin's the best moment to buy is still to come »

Previous « AUDUSD broke support level 0.7200

Published by

The FxPro Tech Analysis Team

Tags: XAGUSD

7 years ago

The funeral for Gold has been postponed
The Supreme Court, with its scepticism about the legality of tariffs, has allowed the shiny…
Crypto bulls fail to maintain momentum
Crypto market stabilises after decline; Bitcoin rebounds but faces pressure. Mixed investor sentiment and notable…
Verbal interventions do not help yen
The weak yen and euro boost the USD, as central banks remain cautious and global…