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The Silver came under pressure again, after forming a top at $14.36

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 29, 2015.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    The Fed's decision to raise its funds rate at 0.25% to 0.5% up from zero to 0.25% could send the silver to $13.61 to form a bottom at its lowest level since August 2009.

    But the silver has been exposed in the first day of this week to increasing of the down side momentum, after peaking at $14.39 to contain 4 days of rising by a dark candle closing at $13.90.

    The Silver daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility returned to the neutral region coming from the overbought area to read now 48.102 and also its signal line which is referring now to 68.982.

    Important levels: Daily MA50 @ $14.52, Daily MA100 @ $14.79 and Daily MA200 @ $15.40

    S1: $13.61
    S2: $12.34
    S3: $11.72
    R1: $14.39
    R2: $14.61
    R3: $15.04

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid
    Tel: UK. +44 1138590277
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    #1 fx-recommends, Dec 29, 2015
    Last edited: Dec 29, 2015

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