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    Technical analysis of Silver for March 03, 2015

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    Technical outlook and chart setups:

    Silver tested $16.0/10 levels for the third time today before pulling back sharply towards $16.40/50 levels again. The metal was expected to drop into $16.20/30 levels after hitting the intermediary resistance trend line passing through $16.70 levels yesterday. Please note that the $16.00 handle still remains intact and recommendations are to remain long, with risk at $15.50 for now. Immediate support is seen at $16.00 levels (interim), followed by $15.50 and lower while resistance is seen at $16.80/90, followed by $17.40/50, $18.50 and higher respectively.

    Trading recommendations:

    Remain long, stop at $15.50, a target is open.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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