Silver is facing negative outlooks – Technical Analysis – 22-10-2015

Silver price declined on the short term basis affected by breaking a negative formation that was formed recently, which is the rising wedge that appears on chart, with move negative pressure that comes from the moving average 50, moving within sideways range on the short term basis, accompanied by forming negative divergence by stochastic.

Therefore, we expect witnessing decline in the coming periods, targeting 15.50 support level, which represents the lower line of the sideways range.