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Technical analysis of Silver for June 25, 2015


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Technical outlook and chart setups:

On Tuesday, silver dropped marginally lower to the level of $15.75 before pulling back again. The metal is trading around $15.93 now and the H4 chart view suggests further upside movement here. The metal broke below the trend-line support, but is still seen to be holding previous support at $15.60. It is hence recommended to remain long now with risk at $15.30. Immediate support is seen at the level of $15.60 followed by $15.30 and lower while resistance is seen at $16.40 (interim) followed by $17.20, $17.70, and higher respectively.

Trading recommendations:

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

Good luck!



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