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Silver technical analysis: after the collapse of the weak

Silver technical analysis: after the collapse of the weak

international cash on Friday (November 13) at 2.5-month low hit overnight 14.19 vulnerable consolidation at the top, but the first time in 12 trading sessions to rise.  

the Fed is expected to raise rates a solid, the European Central Bank to expand QE will be even further reduced the already negative commercial banks at the Central Bank's deposit rate, Europe and the Outlook for monetary policy divergence, gold pressure remains heavy.

United States Department of Commerce (DOC) October retail sales data released on Friday, in view of the importance of data on consumption, markets tend to make its response significantly.  If continuation indicator data series of recent good performance, the expected Fed rate hike in December is expected to further consolidate, whereas silver rally, but in fundamentals, and rebound in limited space.

on the daily chart, silver fell overnight US $ 0.12, long shadow of the labia up and down lines were recorded, in the short term remains vulnerable.  Indicators, MACD green energy column slightly shrinking, dead crossing the double line extending downward; KD indicators double line preliminary gold fork relative strength index RSI were 27.70, turning heads upward.

we believe that the silver fundamentals are bearish, silver prices remain under pressure, but the stochastic oversold short-term or rebound, but space is limited. Initial target at 14.19 of silver down, further goals at 13.93 more crucial goal at $ 13.48 an ounce; silver recovery of initial resistance at 14.50, further resistance at 14.80, more key resistance at $ 15.00/ounce.