InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Technical analysis of Silver for July 28, 2015


    Show full picture

    Technical outlook and chart setups:

    Silver is seen to be trading around the $14.70 levels at the moment looking to push higher towards at least the $15.30/40 levels in the coming trading sessions. Please note that a Fibonacci convergence (resistance) is also seen around the $15.30 levels, as depicted here. It is hence recommended to initiate long positions with risk at the $14.25 levels for now. Immediate support is seen at the $14.40/50 levels (interim) followed by $14.25, $13.00 and lower, while resistance is seen at the $15.50 levels followed by $15.80/16.00 and higher respectively.

    Trading recommendations:

    Initiate long positions. Stop is at $14.25, 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