Silver : Technical View : 18.11.2019
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On the daily chart, the price drifted by 0.79% in the previous trading session.
Moreover, the price has retreated from the Median of the Bollinger Band, which adds
resistance in the counter.
On the other hand, momentum indicator MACD has breached below it’s zero level which
confirms bearish strength in the counter.
Momentum indicators RSI(14) has reverted from it’s 50 level which indicates weakness in
the counter.
As per the above technical structure; we expect bearish move in the counter.
Moreover, the price has retreated from the Median of the Bollinger Band, which adds
resistance in the counter.
On the other hand, momentum indicator MACD has breached below it’s zero level which
confirms bearish strength in the counter.
Momentum indicators RSI(14) has reverted from it’s 50 level which indicates weakness in
the counter.
As per the above technical structure; we expect bearish move in the counter.