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05.03.2015 09:11 AM
Technical analysis of Silver for March 05, 2015
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Technical outlook and chart setups:

Silver has formed a potential double bottom at $16.00/10 levels as seen here. Moreover, the metal has stalled at the fibonacci 0.618 support level of the rally between $14.66 and $18.50 levels, respectively. The metal is expected to resume its rally towards $20.00 and $21.00 levels any moment now. Immediate support is seen at $16.00 (interim), followed by $15.50 and lower, while resistance is seen at $17.40/50, followed by $18.40/50, $18.90 and higher, respectively. Bulls are expected to remain in control untill prices stay above $15.50 levels.

Trading recommendations:

Remain long, stop at $15.50, target is open.

Good luck!


Summary
Urgency
Analytic
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