Silver is trading around the levels of $14.87/90 now drifting in a tight consolidation range as shown here. The metal is testing the resistance line at the moment, and a push higher could take prices to at least $15.40/50. Please note that reversal in a trend shall only be confirmed with a break above $15.90. It is recommended to remain long with risk at $14.25. Immediate support is seen at $14.50/60 followed by $14.25 and lower while resistance is seen at $15.40/50 (interim) followed by $15.90, $16.20, and higher respectively.
Trading recommendations:
Remain long until prices stay above $14.25.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
Silver is trading around the levels of $14.87/90 now drifting in a tight consolidation range as shown here. The metal is testing the resistance line at the moment, and a push higher could take prices to at least $15.40/50. Please note that reversal in a trend shall only be confirmed with a break above $15.90. It is recommended to remain long with risk at $14.25. Immediate support is seen at $14.50/60 followed by $14.25 and lower while resistance is seen at $15.40/50 (interim) followed by $15.90, $16.20, and higher respectively.
Trading recommendations:
Remain long until prices stay above $14.25.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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