1. Silver resumes its upswing finally towards $23.00 and $25.00 on the higher side. It is recommended to remain long for now, with risk at $19.00/25. As seen here, a push above $21.40 levels would be extremely bullish for the metal and the rally would accelerate after that.
2. Resistance intermediary is seen at $21.70/80, followed by $22.30 and higher up respectively, while support is at $19.00, followed by $18.75 and lower respectively.
3. The structure indicates that Silver bottoms at $19.45 and resumes its upswing finally. Bulls shall remain in control till prices remain above $19.00/45.
Trading recommendations:
Remain long for now, 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 resumes its upswing finally towards $23.00 and $25.00 on the higher side. It is recommended to remain long for now, with risk at $19.00/25. As seen here, a push above $21.40 levels would be extremely bullish for the metal and the rally would accelerate after that.
2. Resistance intermediary is seen at $21.70/80, followed by $22.30 and higher up respectively, while support is at $19.00, followed by $18.75 and lower respectively.
3. The structure indicates that Silver bottoms at $19.45 and resumes its upswing finally. Bulls shall remain in control till prices remain above $19.00/45.
Trading recommendations:
Remain long for now, 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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