empty
 
 
30.04.2015 07:44 AM
Technical analysis of Silver for April 30, 2015

This image is no longer relevant

Technical outlook and chart setups:

Silver is trading around $16.50 at the moment and is expected to find support at $16.00 before it resumes its uptrend. Please note that the level of $16.00 is also the fibonacci 0.618 support for the recent rally between $15.60 and $16.70. It is recommended to remain flat for now and look to enter buying lower around those levels. Bulls are expected to regain control around $16.00 if ut gets reached. Immediate support is seen at $16.30 followed by $15.80, $15.30, and lower. Resistance is seen at $17.40/50 followed by $18.40/50 and higher respectively.

Trading recommendations:

Remain flat now.

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