InstaForex - Analytics

    InstaForex

    739.75 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Silver for August 25, 2015


    Show full picture

    Technical outlook and chart setups:

    Silver has again dropped lower towards the $14.75 levels after testing resistance at the 50-day moving average on the H4 chart view. It is quite possible that the current drop receives support ahead of tthe $14.40/50 levels and resumes rally towards $16.40 in the near future. It is hence recommended to remain long and also look to add further positions with risk at the $14.40/50 levels. Immediate support is seen at the $14.40/50 levels followed by $14.00, $13.00 and lower, while resistance is seen at the $15.80 levels followed by $16.40 and higher respectively.

    Trading recommendations:

    Remain long, stop is at $14.40, 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