Technical Analysis: Silver | Live Trading News

Technical Analysis: Silver

Posted by: : Paul EbelingPosted on: July 29, 2014Technical Analysis: Silver

The high volatility formed long lower shadow candles, and all was seen below the classic resistance on the chart below.

Linear Regression Indicators are negative and 34 line is trading below the resistance.

MACD is biased to the Southside and attempting to break below Zero to the Southside. Expect more Southside action as long as 21.19 remains intact.

Stability below 20.87 is negative, but need a daily closing below 20.44 to confirm the extension of the Southside move.

Support: 20.50, 20.44, 20.38, 20.24, 20.18

Resistance: 20.60, 20.64, 20.87, 21.08, 21.19

Recommendation:  The outlook is negative, sell 20.90 with the risk-limit above 21.08

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Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.Messi Accused Of Not Paying EUR 4.16-M In Tax – July 29, 2014
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Technical Analysis: Silver | Live Trading News

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