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    Technical analysis of Silver for July 13, 2015


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    Technical outlook and chart setups:

    Silver is trading around the levels of $15.50/60 at the moment after having taken out initial resistance at $15.80/85 as seen on the H4 chart. The metal is expected to retrace lower around $15.20 before rallying further higher towards at least $16.60. It is hence recommended to buy around $15.20 on dips with risk at the level of $14.25. Immediate support is seen at the levels of $14.50/60 followed by $14.30 and lower while resistance is seen at the levels of $16.40/50 followed by $17.20 and higher respectively.

    Trading recommendations:

    Look to enter long positions again around $15.20/30, stop is at $14.25, a target is open.

    Good luck!


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