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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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Silver - Ready to Challenge The Declining Trendline

Silver is still on a declining trend-line but we think that the metal is ready to challenge the upper bound of the symmetrical triangle. Yet, the metal is still holding below the 200-day moving average. Support can now be found at 13.98 (24/07/2015 low). Resistance is given at 16.53 (04/06/2015 high) and key resistance lies at 17.75 (18/05/2015 high).

In the long-term, the break of the major support area between 18.64 (30/05/2014 low) and 18.22 (28/06/2013 low) confirms an underlying downtrend. The strong support at 14.66 (05/02/2010 low) has been broken and prices have then consolidated. A key resistance stands at 18.89 (16/09/2014 high).

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