Silver was under pressure. At this stage, one of the key things that determines the dynamics of the precious metals are the expectations for the US Federal Reserve monetary policy. I must say that after the meeting, which was held on October 28, the US regulator was quite aggressive. Moreover, the Fed gave a clear hint at the next meeting, which, of course, supported the dollar. Today’s data on the rate of growth of the US economy (GDP in Q3 came in at 1.5% vs. 1.6%) failed to significantly change the mood of the market, which is already laid at the Fed rate hike in December.
In the area of 15.685 price level formed a support. Provided that the level is overcome, could increase sales that trigger the acceleration of the fall. On the hourly chart quotes already fixed below the 50-interval moving average, which also allows you to wait for a drop in prices in the short term.