Silver pulls back from 3-month high

From xm.com

Silver reversed to the downside early on Friday but the 20-period simple moving average (SMA) in the four-hour chart managed to halt the bearish correction as it did a few days ago. The RSI and the MACD lost momentum as well, endorsing the negative move in the price. Yet, as long as both indicators remain in bullish area – the former above 50 and the latter above its red signal line – chances for a sharp downfall are weak. The 23.6% Fibonacci of 15.24 of the 14.27-15.43 upleg is currently keeping the market action under control. Lower, the bears will try to overcome the 20-period SMA at 15.15 and meet a stronger ... (full story)