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28.04.2015 09:17 AM
Technical analysis of Silver for April 28 , 2015

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Technical outlook and chart setups:

Silver resumed its uptrend by breaking higher and reaching the level of $16.50 yesterday. The metal has formed a higher low at $15.60 confirming its upward movement here. Also note that the counter trend-line resistance was broken and any dip from here on could be considered as opportunity to go long. It is hence recommended to remain long for now with risk at $15.30. Immediate support is seen at $15.60 followed by $15.30 and lower, while resistance is seen at $16.50/60 followed by $17.40/50, $18.40/50, and higher respectively.

Trading recommendations:

Remain long for now, stop at $15.30, a target is open.

Good luck!


Summary
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