empty
 
 
10.06.2013 03:06 PM
Silver remains good buy at 21.50/60

This image is no longer relevant

Technical outlook and chart setups:

The structure remains unchanged for the metal yet. It is recommended to remain long for now and also look to add on intraday dips. The metal is bounding off the 0.618 Fibonacci support level at 21.30/40 and is expected to reach 24.50 at least in the sessions to come. Supports are spread through 20.75 and 20.00 levels; while resistance is spread through 23.00, 24.00 and higher up. The overall structure after printing lows at 20.00 level is unfolding as at least an ABC correction at the moment; which could extend to 24.50 and higher. Looking higher for now.

Trading recommendations:

Remain long, stop is at 20.50, and target is 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 $6000 more!
    In December we raffle $6000 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