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Silver Technical Analysis: The price of silver breaks support and will continue to go down

30 Oct 2018 03:24 PM

The price of silver dropped and breached the main support line, and negative signs were seen on the technical indicators, all pointing to the possibility of continuation of the bearish trend of the price of silver. Any trading below 14.54 will keep the pair down for today.

From the bottom, however, we should see a break of 14.32 to confirm the extension of the bearish trend.

Therefore, we think it is good to sell silver below 14.40 with a two-stage profit at 14.32 and 14.15 and a stop loss above 14.55.

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