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    Technical analysis of Silver for July 07, 2015


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    Technical outlook and chart setups:

    Silver is trading around $15.70 now after having broken out of the trading range yesterday. The metal had rallied up to $15.88 before pulling back lower again. Another push above $15.80 should bring the metal into the buy zone of the dropping trend-line resistance and probably test $16.00/10. That would confirm the meaningful bottom in place at $15.50. It is therefore recommended to remain long now with risk below $15.30. Immediate support is seen at the level of $15.50 followed by $15.30, and lower while resistance is seen at the level of $16.00/10 followed by $16.40/50, $17.20, and higher respectively.

    Trading recommendations:

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

    Good luck!


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