Silver Forecast October 14, 2014, Technical Analysis
The silver markets tried to rally during the course of the day on Monday, but as you can see struggled at the $17.50 level again to form a nice-looking shooting star. Because of that, it appears the market is going to continue to go lower, and as a result we are very bearish of silver overall. Because of that, the market continues to be one that we can sell on rallies going forward, and we still believe that the longer-term downtrend will continue. In fact, we think that $15 is the next target overall.
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.