InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Technical analysis of Silver for June 08, 2015


    Show full picture

    Technical outlook and chart setups:

    Silver is seen to be trading around the levels of $16.10/15 now after printing lows at $15.95/96 earlier. Please note that the support trendline is passing just below the current price action. Furthermore, the metal is bouncing off the fibonacci 0.786 support of the rally between $15.60 and $17.70. It is hence recommended to remain long for now with risk around $15.50/60. Immediate support is seen at the level of $15.80 followed by $15.60, $15.30, and lower. Resistance is seen at $17.20 followed by $17.70, $18.40/50, and higher respectively.

    Trading recommendations:

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

    Good luck!


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree