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    Technical analysis of Silver for April 21, 2015

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    Technical outlook and chart setups:

    Silver is seen to be trading around the sub-level of $16.00 at the moment and is still holding within the fibonacci 0.618 support region. The metal has produced tweezer bottoms earlier and is preparing to rally further towards a fresh high. It is recommended to initiate long positions now with risk around $15.30. Immediate support is seen around the level of $15.80 followed by $15.30 and lower, while resistance is seen at $16.50/60 (interim) followed by $17.40/50, $18.40/50, and higher respectively. Bulls are poised to push prices higher until they remain above the level of $15.30.

    Trading recommendations:

    Initiate long positions. Stop $15.30, a target is open.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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