InstaForex - Analytics

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Technical analysis of Silver for June 12, 2015


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Technical outlook and chart setups:

Silver tested recent lows at $15.80 yesterday before pulling back higher. The metal is trading around $15.93/95 at the moment and producing a bullish morning star candlestick pattern on the H4 chart again. Please note that the metal has managed to remain in the buy zone, keeping the bullish setup intact. It is recommended to remain long and also look to add further with risk at $15.30. Immediate support is seen at $15.60 followed by $15.30 and lower. Resistance is seen at $16.25 followed by $17.20 and higher respectively.

Trading recommendations:

Remain long, stop is at $15.30, a target is open.

Good luck!



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