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    Technical analysis of Silver for March 26, 2015

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    Technical outlook and chart setups:

    Silver was pushed through $17.12/17 yesterday before pulling back. The metal has produced a doji candlestick pattern, indicating a potential change in the direction. Prices are expected to retrace lower into the area around $16.00 before resuming the rally. It is recommended to remain flat for now and look for that dip to enter long positions again. Immediate support is seen at $16.60 followed by $15.80, $15.30, and lower, while resistance is seen at $17.50 followed by $18.50 and higher respectively. The pair needs to correct lower before resuming further rally.

    Trading recommendations:

    Remain flat for now.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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