InstaForex - Analytics

    InstaForex

    736.75 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Silver for November 06, 2015


    Show full picture

    Technical outlook and chart setups:

    Silver has retraced lower towards the fibonacci 0.618 support levels around $15.00/14 levels yesterday. The metal is trading around $15.05/10 levels at the moment, looking to resume a rally higher. Please note that a support trend line is passing through $14.80/90 levels as well, to provide enough support. It is hence recommended to remain long for now, with risk at $14.40 levels. Immediate support is seen through the $14.40 levels, followed by $14.00 levels and lower, while resistance is seen through $16.00 levels and higher respectively.

    Trading recommendations:

    Remain long for now, stop at $14.40, 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