1. Silver remains unchanged since several days, trading around the $19.70/80 levels. Indications are bullish, till prices stay above the $19.00 mark. Recommendations are to remain long, look to add further at these levels ($19.80). Risk remains at $19.00.
2. Resistance is at $21.70/80, followed by $22.30, $23.00 and higher up, while supports are spread across $19.00, followed by $18.75 and lower respectively.
3. The entire structure is indicative of resumption of rally towards the $23.00 and $25.00 mark. Bottomline is that $19.00 levels should remain intact.
Trading recommendations:
Hold longs. set stop at $19.00/25, target is open.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
1. Silver remains unchanged since several days, trading around the $19.70/80 levels. Indications are bullish, till prices stay above the $19.00 mark. Recommendations are to remain long, look to add further at these levels ($19.80). Risk remains at $19.00.
2. Resistance is at $21.70/80, followed by $22.30, $23.00 and higher up, while supports are spread across $19.00, followed by $18.75 and lower respectively.
3. The entire structure is indicative of resumption of rally towards the $23.00 and $25.00 mark. Bottomline is that $19.00 levels should remain intact.
Trading recommendations:
Hold longs. set stop at $19.00/25, target is open.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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