Silver technical analysis: 14.62 recent fractal low guards 50% retracement to 14.67s

With the move to the downside, there is the case for a mean reversion although bears will be keen on striking more silver towards the bottom of the descending channel and the 78.6% Fibo in the 14.40s.
However, a 50% retracement comes in at 14.67 as an interim upside target.
14.62 was a recent fractal low on the daily sticks which could prove to be a tough nut to crack.
14.80 is the 61.8% Fibo proven resistance/support level on a continuation of a move higher again.

$Silver technical analysis: 14.62 recent fractal low guards 50% retracement to 14.67s$

Ross J Burland FXStreet

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Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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