InstaForex - Analytics

InstaForex

719.00 6.50/10
61% of positive reviews
Real

Technical analysis of Silver for December 04, 2015


Show full picture

Technical outlook and chart setups:

Silver is testing its immediate trend-line resistance of $14.10 at the moment. Please note that the metal had bounced back after hitting lows around $13.82 earlier. Resistance is seen at the fibonacci 0.786 level now. A breakout above the trend line and subsequently above $14.25/30 in coming sessions could encourage bulls, but in favor of the continued downtrend, we still expect the metal to drop towards $13.00 as shown here. It is therefore recommended to remain flat. Immediate support is seen the levels of $13.82 followed by $13.00 and lower, while resistance is seen at $14.30 followed by $14.45/50 and higher.

Trading recommendations:

Remain flat for now.

Good luck!



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree