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    Technical analysis of Silver for March 25, 2015

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    Technical outlook and chart setups:

    Silver might be preparing to drop lower towards $16.00 before resuming rally. It is recommended to remain flat for now and look for buying at lower levels again. The metal has taken out initial resistance at $16.89 earlier and is expected to drop lower before pushing towards $17.50 and $18.00 subsequently. Immediate support is seen at the level of $16.60, followed by $15.80, $15.30 and lower while resistance is seen at $17.50 and higher respectively. Buying on dips could be a safe trading strategy for now.

    Trading recommendations:

    Remain flat for now and look to buy lower around $16.00.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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