Technical Outlook for SILVER 11-6-2015

Technical Outlook for SILVER 11-6-2015

Silver moved last Friday in the average movement of 22 cent, its highest level at 16.04 and the lowest price at 15.82 and closed at 15.94 to Gain just 6 cent According to the Friday’s economic data.

Silver opened today's trading at 15.91 and now is trading around 15.88...

Silver moves in a series of down correction waves in a price channel.

It is expected that the silver is heading targeting 15.60 as the target on time frame of four hours and till now we see the Bears control on market direction

And the Relative Strength Indicator "RSI" show us distribution operations at the market

Today we could see sharp trading because of the economic data from USA

Support levels: 15.82 and 15.71 and 15.60

Resistance levels: 16.04 and 16.15 and 16.26

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