Technical analysis of Silver for November 19, 2015
November 19, 2015 1:50 pm
Technical outlook and chart setups:
Silver managed to hold the level of $14.00. The metal should be looking for a counter-trend rally towards $14.60 and $15.00. As we can see here, the metal is just looking to break out of its resistance trend line. Immediate support seems to be coming in around $14.10 followed by $14.00, while resistance is seen at $14.50 followed by $15.00 and higher respectively. It is recommended to remain long on positions taken earlier with stop at $14.00, but refrain taking fresh longs.
Trading recommendations:
Remain long with stop at $14.00.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
Silver managed to hold the level of $14.00. The metal should be looking for a counter-trend rally towards $14.60 and $15.00. As we can see here, the metal is just looking to break out of its resistance trend line. Immediate support seems to be coming in around $14.10 followed by $14.00, while resistance is seen at $14.50 followed by $15.00 and higher respectively. It is recommended to remain long on positions taken earlier with stop at $14.00, but refrain taking fresh longs.
Trading recommendations:
Remain long with stop at $14.00.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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