empty
 
 
14.10.2014 06:01 AM
Technical analysis of Silver for October 14, 2014

This image is no longer relevant

Technical outlook and chart setups:

Silver is trading just below the resistance level ($18.00 levels), around $17.50 for now. Please note that the metal is trading in the sell zone of outer resistance line and still needs to be pushed through $18.40/50 levels to instill further confidence into the bullish setups. It is recommended to remain long for now, risk remains at $16.60. Immediate resistance is seen at $18.00 levels, followed by $18.70/80 and higher up while support is seen at $16.60 respectively. Bulls have managed to break out of immediate line of resistance for now and a further push towards $18.40 remains possible.

Trading recommendations:

Remain long for now, stop at $16.40, 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