Overview

Silver price ended last week trading below the level of 13.96, which puts the price under the negative pressure in the upcoming period, opening the way towards 13.50 and then to 13.00 as next major targets. The EMA50 negatively influences the price, while stochastic gradually loses its bullish momentum to support the suggested bearish bias. Be aware that breaching 13.96 and then 14.15 will hinder the current decline making the price to recover attempts on an intraday basis. Silver price has been trading negatively since morning in an attempt to move away from the level of 13.96, which supports the continuation of our bearish trend expectations efficiently for the rest of the day. With supported from the EMA50 waiting for visiting 13.50 and then 13.00 should remind you that holding below 13.96 and 14.15 is important for the continuation of the suggested decline.