empty
 
 
18.12.2014 09:58 AM
Technical analysis of Silver for December 18, 2014

This image is no longer relevant

Technical outlook and chart setups:

Silver has remained steady after bouncing off the $15.50/60 levels as seen here. The metal is expected to continue rallying further towards $17.50 levels at least. It is recommended to continue holding long positions for now, risk remains below $14.50 levels. As discussed earlier, the metal may be forming a right shoulder of a potential inverted head and shoulder reversal. Immediate support is seen at $15.50 levels (interim), followed by $14.50 and lower while resistance is seen at $16.60 levels, followed by $17.20/30 and higher up respectively. Bulls should remain in control till prices remain above $14.50 for now.

Trading recommendations:

Remain long for now, stop at $14.50, the 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 $8000 more!
    In March we raffle $8000 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