Silver

[Samirofi]

Silver trades near the support 18/11/2013



Silver price remains fluctuating near the sideways range’s support at 20.55, while the price is affected by Stochastic negativity which causes a bearish pressure on the intraday basis.

In general, the stability above the mentioned level keeps the chances valid to achieve positive trading in the upcoming period, our main targets are located at 22.10, reminding you that breaking below 20.55 will lead to a decline that its main target at 19.15

Expected trading range for today is between: 20.00 support and 21.70 resistance.

Expected trend for today: Bullish

[Samirofi]

Silver pushes negatively 19/11/2013



Silver price achieved a break below the critical support 20.55 that appears in the image, opening the way towards more negative trading for today, which its next target located at 19.80

Stochastic reaches the oversold levels to provide chances for achieving some recovery moves on the intraday basis, but generally, the stability below 20.55 and 20.80 will keep the negative pressure valid, and the targets extend to reach towards 19.15 then 18.20

Expected trading range for today is between: 19.15 support and 20.95 resistance.

Expected trend for today: Bearish

[Samirofi]

Silver retests 20/11/2013



Silver price is fluctuating near the previously broken support level at 20.55 in attempt to retest it, while holding below this level represents the main factor that keeps the bearish trend expectations valid, where we are waiting for targets begin at 19.80 and reach towards 19.15

We remind you that breaching above 20.55 then 20.80 will open the way for the price recovery attempts and regaining the main bullish trend gain.

Expected trading range for today is between: 19.15 support and 20.95 resistance.

Expected trend for today: Bearish

[Samirofi]

Silver touches the first target 21/11/2013



Silver price trades at the waited first target at 19.80, and we are waiting for more negative pressure to open the way towards 19.15, where the pressure that comes from the EMA50 continues on the intraday trading.

Note that confirming breaking below 19.80 will open the way for heading towards more bearish targets which reach towards 18.15, while the bearish trend remains valid unless the price achieved a breach above 20.55 and 20.80

Expected trading range for today is between: 19.00 support and 20.55 resistance.

Expected trend for today: Bearish

[Samirofi]

Silver finds solid support 22/11/2013



Silver price trades near the critical support 19.80, which represents 76.4% Fibonacci correction level for the rise that appears in the above image, this support attempts to stop the pair losses, where breaking it will make the decline extend towards 18.15

Now, the sideways range will be suggested between 19.80 and 20.55 until the price succeeds to confirm breaching above one of these levels, pointing that breaching above 20.55 then 20.80 will provide positive chances for the bullish trend return again.

Expected trading range for today is between: 19.00 support and 20.80 resistance.

Expected trend for today: Sideways

[Samirofi]

Silver remains stable 16/12/2013



Silver price keeps its stability below 19.80, and stochastic shows clear overbought signals, which supports the chances to bounce to the downside from the current levels, to keep the expected bearish trend valid on the intraday basis, waiting to break 19.15 level to confirm heading towards 18.15

Breaching above 19.80 will lead to retest 20.55 initially.

Expected trading range for today is between: 18.65 support and 20.00 resistance.

Expected trend for today: Bearish

[Samirofi]

Silver 23/12/2013



Silver price controls silver price trading, which remains moving near the sideways range’s support 19.15, in general, the suggested scenario in our morning report remains valid as it is without any change, waiting for some calm bullish bias for today.

Expected trading range for today is between: 18.65 support and 20.55 resistance.

Expected trend for today: Sideways

[Samirofi]

Will Silver Wheaton Plummet Further?

Shares of Silver Wheaton Corp. (SLW) have sharply decreased during December: The stock fell by 5.8% since the beginning of the month (up-to-date). The weak silver market especially after last week’s FOMC decision to taper QE3 by $10 billion is also dragging down Silver Wheaton’s stock. Gold and silver ETFs such as iShares Silver Trust (SLV), SPDR Gold Trust (GLD) have also suffered from the weakness of precious metals and sharply declined during December. Will Silver Wheaton continue to plunge? What should we expect from the company’s performance in the fourth quarter?


Fourth-quarter report


The company is likely to release its fourth-quarter earnings report during the middle of January 2014. Until then, let’s see how the company may have done during the quarter. Based on the company’s expectations, production of gold and silver in the first three quarters of 2013, and the changes in the prices of precious metals, I guess the company’s revenues will sharply decline in the fourth-quarter compared to the parallel quarter in 2012. The main reason for the drop in revenues is sharp fall in precious metal prices. The fall in prices will offset the expected rise in both gold and silver production.

Good Luck

[Samirofi]

Silver Morning Technical Report 24/12/2013



Silver maintains trading within the short term sideways range , after price has broken the minor ascending support but fails to retest the bottom of the range, momentum is showing slight bullish divergence. Price maintains a very narrow range, and therefore we prefer to remain neutral under these conditions.

[PCMAnalyst]

We are observing a non-ideal Bat harmonic pattern on the daily TF. We are expecting to have the price climbed by the metal, according to the time being fulfilled and slow rhythm of the correction swing.