InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

    Technical analysis of Silver for November 11 2015

    Show full picture

    Technical outlook and chart setups:

    Silver might be producing a potential inverted head and shoulder reversal as seen on a compressed view of the H4 chart here. The metal is trading around $14.50 at the moment, a potential right shoulder, in line with the left shoulder. The current price action also indicates that silver is on its way to break above $14.60/65, which is immediate short-term resistance. Furthermore, the metal is also testing a resistance turned support trend line, and a push above $14.60 should be extremely encouraging to bulls. It is hence recommended to remain long, with risk at $14.00. Immediate support is seen at $14.00, while resistance is seen at $14.60/70.

    Trading recommendations:

    Stay/go long, stop is at $14.00, 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