empty
 
 
27.06.2012 03:29 PM
Fundamental Analysis, for June 27, 2012

This image is no longer relevant

Technical outlook and chart setups:

Silver istrading around $14.80 now after dropping below the interim support of $15.50 yesterday. As depicted here, the metal has tested a low of $14.65 hit back in December 2014 and pulled back. A bullish reversal signal will indicate a potential double bottom formation encouraging bullish setups again. On the other hand, a break below $14.40 could result in further lows in coming days. It is therefore recommended to remain flat now until further confirmation will be seen on charts. Immediate support is $14.65 (interim) followed by $14.40 and lower while resistance is seen at $15.80 and higher respectively.

Trading recommendations:

Stay flat for now.

Good luck!

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
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 $3000 more!
    In September we raffle $3000 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