empty
 
 
17.07.2015 02:33 PM
Technical analysis of Silver for July 17, 2015

This image is no longer relevant

Technical outlook and chart setups:

Silver is holding above the $14.50/60 levels at the moment. The metal is seen to be trading around the $14.98 levels at the moment, and bulls would be determined to remain in control until prices stay above the $14.20/30 levels at least. On the other hand, a breakdown lower could prove to be extremely bearish for the counter. It is good to remain long until prices remain above the $14.25 levels at the moment. Immediate support is seen at $14.50/60 levels followed by $14.30 and lower, while resistance is seen at $16.40/50 levels followed by $17.20 and higher respectively.

Trading recommendations:

Remain long for now. Stop is at $14.25, 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