Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Silver Price: Sideways Trading In Place

Silver Price: Sideways Trading In Place

Alejandro Zambrano, Market Analyst


Trading is muted as most traders are off their desks to celebrate the New Year.

Technical Trend is Bearish

The very short-term trend is bearish below December 29 high at $14.05 and it would be fair to expect price to range trade today, but to ultimately reach $13.75 and $13.59 next week. However, as the trend of the daily-time-frame is sideways to bearish I would not place too much trust on the short-term levels of the 30 minute time-frame seen below. The reason for this is that price may break the levels seen below without it changing the overall trend. The trader would therefore be stopped out for a real reason. With the lack of a trend I prefer the more stable daily time frame.

Short-term traders wanting to trade the short-term charts will most likely turn bullish on a break to the December 29 high of $14.05. In this scenario I see prices reaching $14.25 and then $14.40.

Get ahead in 2016 – Read The Traits of Successful Traders Guide

Please add a description for the image.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

Learn more about trading and join a London Seminar

To be added to Alejandro’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.