empty
 
 
09.04.2014 10:22 AM
Technical analysis of Silver for April 09, 2014.

This image is no longer relevant

Technical outlook and chart setups:

1. Silver remains virtually locked between $19.80/90 and $20.10/20, trading range since several sessions now. Directional conviction shall come on a breakout in either directions; above $20.20 or below $19.80. It is recommended to remain long for now, but avoid taking fresh positions at the moment, risk remains at $19.00/25.

2. Resistance is at $21.70/80, followed by $22.30, while support is at $19.45 (intermediary), followed by $19.00 and $18.75 respectively.

3. The structure remains unchanged for now with bulls expected to remain in control till prices are above $19.00.

Trading recommendations:

Remain long, set stop at $19.00, 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 $9000 more!
    In May we raffle $9000 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