empty
 
 
13.05.2015 08:05 AM
Technical analysis of Silver for May 13, 2015

This image is no longer relevant

Technical outlook and chart setups:

Silver is trading above $16.50 now after it formed a base around the level of $16.10 yesterday. The metal needs to be pushed above $16.70 to confirm a bullish breakout. It is recommended to remain long for now with risk at $15.30. Immediate support is seen at $16.10/16.00 followed by $15.60, $15.30, and lower, while resistance is seen at $17.40/50, followed by $18.40/50 and higher respectively. The metal could test $16.40 before rallying on the higher side.

Trading recommendations:

Remain long, stop at $15.30, a target is open.

Good luck!


Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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