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    Technical analysis of Silver for April 22, 2015

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    Technical outlook and chart setups:

    Silver is trading above the level of $16.09 again and it is expected to resume its rally soon. The metal had bounced off $15.80 on Monday and formed a bullish reversal. The follow through has been good until now and a push above the level of $16.20 is likely to be encouraging for bulls. It is recommended to remain long and look to add further on dips. Immediate support is seen at $15.80 followed by $15.30 and lower, while resistance is seen at $16.50 followed by $17.50, $18.40/50, and higher respectively.

    Trading recommendations:

    Remain long for now, stop at $15.30, a target is open.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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