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12.12.2014 02:29 AM
Technical analysis of Silver for December 12, 2014
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Technical outlook and chart setups:

Silver has been trading into the buy zone, after breaking above the immediate line of resistance earlier. The metal has been in a trading range since then between $16.90 and $17.20, as seen here. A push higher above $17.30 levels from here could test $17.40/50 levels at least before a meaningful retracement can take place. It is recommended to remain flat for now and look to buy at lower levels instead. Immediate support is at $16.90 (interim), followed by $16.20, $14.50 and lower, while resistance is seen at $17.40/50 levels, followed by $17.80/18.00 and higher respectively. 

Trading recommendations:

Remain flat for now. Look to buy lower.

Good luck!


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