14 Sep 2015 Technical Chart Silver Base in formation

In its previous attempt silver had failed to sustain above the key daily moving averages (DMAs) and tumbled sharply. It had broken the crucial swing lows of $14.42 and $14.33 on an intra-week basis. However, silver recovered from a falling trend line and posted a weekly close above these supports. A larger structure shows that the white metal has formed an Ending Diagonal pattern. Thus, unless the recent low of $13.93 breaks silver can be expected to move up. The key levels on the upside will be 15.66 and 16.10.