FX.co ★ Daily analysis of Silver December 20, 2016

Overview

The silver price resumes downward movements trading below 16.00, which supports the bearish scenario for the rest of the day. The price is likely to test 15.49 levels initially; a break of this level will extend the silver price losses to 13.75 as the next main station. In general, holding below 16.56 levels keeps the bearish scenario valid as a breach of it will open the way to recovery and stop the current negative pressure with positive targets at 17.43 and 18.30. The expected trading range for today is between the 15.49 support and the 16.30 resistance.