empty
 
 
05.09.2014 04:53 AM
Technical analysis of Silver for Sep 05, 2014

This image is no longer relevant

Technical outlook and chart setups:

1. Silver is still trying to form bottom around sub $19.00 levels and there is no change in its expected direction for now. The metal needs to bounce from the current levels to enable bulls to take control back. It is still recommended to remain long, risk remains below the $19.00 level.

2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.20, followed by $21.70, $22.30, and higher respectively.

3. The structure indicates that Silver still remains constructive for bulls till prices remain above the $18.60 level.

Trading recommendations:

Remain long for now, stop below $19.00, the target is open.

Good luck!

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 $5000 more!
    In November we raffle $5000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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