TechnoMeter

Daily price was on bear marker rally within the primary bearish market condition since the end of January this year, and the price is started to break 200-day SMA from below to above for the reversal of the price movement from the primary bearish to the primary bullish condition. If the price breaks 15.43 resistance so the bullish reversal will be started.

• "Silver prices are consolidating after yesterday’s strong gains and traders will probably see a break to yesterday’s high of $14.49 as an opportunity to add to their bullish exposure. On a break to the high, silver may reach the October 9 low of 15.62. A move higher is also suggested given the correlation to gold prices, a simple linear regression analysis suggesting that silver is trading at a discount to gold, and should be trading at $15.98 on gold prices trading at or above $1192 dollar per ounce."
• "The alternative scenario is for silver to give back 50% of yesterday’s gains, taking price to the $15.19 to $15.30 range, and it is here that the risk/reward ratio favours long positions. For price to end its bullish momentum, it would need to break below yesterday’s low of $14.90, and in this scenario price may reach Friday’s low of $14.68."

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