InstaForex - Analytics

    InstaForex

    736.75 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Silver for July 31, 2015


    Show full picture

    Technical outlook and chart setups:

    Silver is trading around $14.65/67 at the moment, looking for an opportunity to move higher towards $15.20/30 if not higher. Please note that the metal is trading in the buy zone of its immediate trend-line resistance and would make attempts to get through the outer trendline around the level of $15.30. It is recommended to remain long for now with risk at $14.25. Immediate support is seen at $14.40/50 followed by $14.00, $13.00, and lower, while resistance is seen at $15.00 (interim), followed by $15.30, $15.90, and higher respectively.

    Trading recommendations:

    Remain long for now, stop is at $14.25, a target is $15.30.

    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