Friday, October 2, 2015

Silver out of the woods? not yet...A pathway for the next days

Silver is in a triangle formation.There is significant resistance at 15.50 level.Currently silver is moving towards 15.50.We believe that silver won't break 15.50 and will slide towards the support line of the triangle at around 14.6. 
At that point silver will either(red line scenario) break below support and move towards 13.5 or it will bounce and retest 15.50.A break above 15.50 (green line scenario) will lead silver towards 16 and then probably it will retest 15.50 as support.