InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Technical analysis of Silver for July 02, 2015


    Show full picture

    Technical outlook and chart setups:

    Silver tested the recent low of $15.50 again before pulling back towards $15.90. The metal is seen to be trading around $15.55/60 now looking to reverse ahead of $15.50. A drop below $15.50 would provide the pair with room for a test of $15.30. On the other hand, the potential double top shall be confirmed on a rally towards $16.20. It is recommended to remain long for now with risk around $15.30. Immediate support is seen at the level of $15.50 levels (interim) followed by $15.30 and lower. Resistance is seen at $16.20/30 followed by $17.30 and higher respectively.

    Trading recommendations:

    Remain long for now, stop is at $15.30, s 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