Silver : Technical View : 22.11.2019
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On the daily chart, the price closed flat and
displayed indecision during the last trading
session.
But, the price has formed a series of lower highs and lower lows which confirms that the counter is in a downtrend.
Furthermore, the price is trading below the Parabolic SAR and 20*50 day EMA.
Momentum indicator RSI(14) has sustained below the 50 level which is weak for Silver.
As per the above technical structure; we expect a bearish move in the counter.
But, the price has formed a series of lower highs and lower lows which confirms that the counter is in a downtrend.
Furthermore, the price is trading below the Parabolic SAR and 20*50 day EMA.
Momentum indicator RSI(14) has sustained below the 50 level which is weak for Silver.
As per the above technical structure; we expect a bearish move in the counter.