FX.co ★ Daily analysis of Silver for February 19, 2016

Overview

The silver price has been trading negatively since morning to approach from testing the support level at 15.15, which represents the potential neckline of the head and shoulders pattern on the H4 chart. It means that breaking this level will push the price to target 14.67 followed by 14.27 levels. We keep neutrality in order to monitor the price behavior according to the key levels represented by 15.15 support and 15.70 resistance, waiting to breach one of them to detect the next targets clearly. Breaching this resistance will lead the price to achieve more gains.