empty
 
 
06.03.2015 08:04 AM
Technical analysis of Silver for March 06, 2015
This image is no longer relevant

Technical outlook and chart setups:

Silver is also testing its recent lows at $16.00 levels before resuming its rally towards $19.00 and $21.00 levels respectively. The metal is also holding the fibonacci 0.618 support of the rally between $14.75 and $18.50 levels for now. Bulls should be poised to remain in control till prices stay above $15.50 levels. Hence, it is recommended to remain long with risk at $15.50 levels. Immediate support is seen at $16.00 levels (interim), followed by $15.50 and lower while resistance is seen at $17.40/50 levels, followed by $18.40/50 and higher respectively.

Trading recommendations:

Remain long for now, stop at $15.50, a 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