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Technical analysis of Silver for December 01, 2015


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Technical outlook and chart setups:

Silver holds $13.93 now trading around the level of $14.19. A trend still can change from current levels due to the divergence seen in both metals last week. Bulls should be poised to push prices towards $15.00 until Silver stays above $13.93. It is hence recommended to initiate long positions with risk at $13.70. Immediate support is seen at $13.93 followed by $13.00 and lower, while resistance is seen at $14.45 followed by $15.10/15 and higher. Only a breakout below $13.93 would delay matters further and the metal may drop to $13.00.

Trading recommendations:

Initiate long positions with stop at $13.70, a target is at $15.00

Good luck!



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