TECHNICAL ANALYSIS BY NSFX 01.02.2015
After Silver made a multiple top in area 18.6 the commodity went into selloff and slided below the 200SMA. Now is trading between the 21SMA and the 55EMA. The long term trend still bearish and only a breakout of the long term supply line will change the long term trend from bearish to neutral/positive. The intermediate trend is positive: the metal is trading in a channel that was generated last October. Below 16.64 the channel will be broken and volatility might rise.