InstaForex - Analytics

    InstaForex

    736.75 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Silver for July 14, 2015


    Show full picture

    Technical outlook and chart setups:

    Silver remains virtually unchanged from yesterday. It is trading at the level of $15.43 at the moment. The metal could still drop lower to the levels of $15.15/18, before resuming its rally towards $16.40/50 and higher respectively. Please also note that the levels of $15.15/18 are also fibonacci 0.618 support of the rally between $14.66 and $15.88 respectively. It is recommended to initiate fresh long positions around $15.20 on a bounce, with risk at $14.25 respectively. Immediate support is seen at the levels of $14.50/60 followed by $14.25 and lower while resistance is seen at the levels of $16.40/50 followed by $17.20 and higher respectively.

    Trading recommendations:

    Remain long and also add fresh positions around $15.15/20 levels, stop is at $14.25, 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