Silver ends the year with high volatility. - Technical Analysis - 04-01-2016

Silver prices lifted up its position in their intra-day levels trading amid high volatility; bouncing thereafter higher and settling above the support of 13.90, which represents the ratio 38.2% of Fibonacci retracement levels for a descending wave in the short term (from 14.41 to 13.58), with positive support from the simple moving average for the period 50, and with positive signals from relative power indicators.

 

Therefore we expect silver to rise farther, targeting the resistance of 14.10, which represents the ratio 61.8 of the same retracement levels mentioned earlier.