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    Technical analysis of Silver for March 15, 2016 2016-03-15

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    Technical outlook and chart setups:

    Silver re-tested resistance at $15.80 yesterday before pulling back in a sharp manner. The metal is seen to be trading lower at $15.30, looking for an opportunity to push further towards the levels of $14.50 before turning bullish. The metal might be unfolding into a flat corrective structure at the moment and could terminate the level of $14.50 to complete the same. Bears are expected to remain in control until prices stay below $15.80/90. It is hence recommended to hold short positions, with risk at $15.90. Immediate resistance is seen at $15.80, while support is found at $15.10/15.

    Trading recommendations:

    Remain short with stop at $15.90, a target is open.

    Good luck!

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