Technical analysis of Silver for January 28, 2014.
January 28, 2014 5:15 am
Technical outlook and chart setups:
1. At the moment, Silver remains unchanged, trading within $19.50 and $20.20/30. It is recommended to remain flat and look to initiate longs towards the sub $19.00 region.
2. Immediate resistance is at $22.00, while supports are spread through $19.30/40, followed by $19.00 and $18.75 respectively.
3. Structure reveals that $18.75 could be a major low formation and utill it holds, Silver could print higher highs and higher lows. The minimum possible extension is at $21.70.
Trading recommendations:
Look to buy around $19.00/40.00 levels.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
1. At the moment, Silver remains unchanged, trading within $19.50 and $20.20/30. It is recommended to remain flat and look to initiate longs towards the sub $19.00 region.
2. Immediate resistance is at $22.00, while supports are spread through $19.30/40, followed by $19.00 and $18.75 respectively.
3. Structure reveals that $18.75 could be a major low formation and utill it holds, Silver could print higher highs and higher lows. The minimum possible extension is at $21.70.
Trading recommendations:
Look to buy around $19.00/40.00 levels.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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