empty
03.01.2013 10:46 AM
Silver Rallies Past 31.00 Level. Look To Buy On Dips

This image is no longer relevant

Technical Outlook and Chart Setups:

Finally prices have put on a morning star bullish signal on the Daily chart as depicted here. Furthermore, this bullish signal appears at a confluence of 0.618 Fibonacci support, trendline support and past resistance turned future support at 29.60 level. Immediate support is at 29.60 and till the time prices remain above this level, higher highs should form. Resistance begins from 32.50 level, followed with 33.50/60 and 34.30 levels on the higher side. It is highly recommended to remain long from earlier positions and add further on dips. Looking higher from here on.

Trading Recommendations:

Hold on to long positions taken earlier and also buy further on intraday dips. Stop is at 29.00. Target is open.

Good Luck!

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Forecast for July 8, 2025

GBP/USDAmid yesterday's 0.56% rise in the U.S. dollar index, the British pound declined by 0.20% (-51 points). The price moved further away from the 1.3635 level, while the Marlin oscillator

Laurie Bailey 05:56 2025-07-08 UTC+2

AUD/USD Forecast for July 8, 2025

AUD/USDWith support from the U.S. dollar (USDX +0.56%), the Australian currency became the day's top decliner (-0.69%, -61 points), as markets await today's expected Reserve Bank of Australia rate

Laurie Bailey 05:50 2025-07-08 UTC+2

XAU/USD. Analysis, Forecast, and Current Market Situation

Gold is maintaining a bearish intraday tone today.Oscillators on the daily chart are just beginning to show negative momentum, indicating the potential for further declines in the metal's price

Irina Yanina 12:50 2025-07-07 UTC+2

Forecast for EUR/USD on July 7, 2025

On Friday, the EUR/USD pair traded very weakly, with trader activity extremely low due to the U.S. Independence Day. As a result, no trading signals, important breakouts, or other chart

Samir Klishi 11:48 2025-07-07 UTC+2

GBP/USD. July 7th. Bulls Defend the 1.3611 Level

On the hourly chart, the GBP/USD pair traded sideways on Friday. Today, a new rebound from the support zone of 1.3611–1.3633 could give traders hope for a reversal in favor

Samir Klishi 11:15 2025-07-07 UTC+2

AUD weakens against USD but there is potential for a temporary strengthening retracement, Monday, July 7, 2025.

AUD/USD – Monday, Monday, July 7, 2025. With the potential for escalation of the global tariff trade war, demand for the USD currency as a safe haven has increased, making

Arief Makmur 08:52 2025-07-07 UTC+2

USD strengthens again against Yen despite potential correction in the near future, Monday, July 7, 2025.

USD/JPY – Monday, July 7, 2025. With the release of positive US economic data and the BOJ's policy stance remaining Dovish, today USD/JPY has the potential to strengthen. Key Levels

Arief Makmur 08:52 2025-07-07 UTC+2

EUR/USD Forecast for July 7, 2025

On the weekly chart, the price has precisely reached the intersection point of the Fibonacci ray and the upper boundary of the price channel. This occurred on the first

Laurie Bailey 06:24 2025-07-07 UTC+2

GBP/USD Forecast for July 7, 2025

On Thursday and Friday, the pound traded within a narrow range between the support level of 1.3635 and the resistance of the daily MACD line. This morning, the price

Laurie Bailey 06:21 2025-07-07 UTC+2

USD/JPY Forecast for July 7, 2025

USD/JPYFollowing a 126-point surge driven by strong U.S. labor market data, which pushed the quote above the balance indicator line, the pair closed below this line on Friday. Today began

Laurie Bailey 06:15 2025-07-07 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.