empty
 
 
12.07.2012 11:34 AM
Silver Consolidating, Breakdown Is Expected

This image is no longer relevant

 

 

Technical Outlook and Chart Setups:
As it can be seen from the chart, silver is following the immediate resistance line downside. Price resistance now comes at 30.00 level. We expect a breakdown anytime below 26.00 level, which has been providing support till now. Only above 29.00/30.00 levels the bearish outlook for the metal will be negated. It is recommended to sell intraday rallies.

Trade Recommendations:
Sell intraday rallies towards 27.50, stop above 30.00, target open.

Good Luck !

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback