FX.co ★ Technical analysis of Silver for December 15, 2015

Technical outlook and chart setups:

Silver continues moving in the downtrend hitting lower lows and lower highs. A low of $13.63 was reached yesterday. The metal needs to move above at least $14.00 and $14.60 subsequently to confirm that bulls are back in control. It is recommended to remain flat now and wait for further bullish evidence. Immediate support is seen at $13.63 follower by $13.00 and lower, while resistance is seen at $14.00 followed by $14.60 and higher. A good sign is a bullish divergence appearing on the daily chart, which indicates that reversal is near.

Trading recommendations:

Remain flat for now.

Good luck!