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22.09.2015 02:03 PM
Technical analysis of Silver for September 22, 2015

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Technical outlook and chart setups:

Silver dropped to the levels of $14.90/95. It is expected to be supported around $14.80. Please note that the levels of $14.75/80 acted as resistance which turned support. Furthermore, a fibonacci 0.382 support is passing through the same level. It is hence recommended to turn bullish now with risk at the level of $14.25. Immediate support is seen at $14.25 followed by $14.00, $13.00, and lower, while resistance is seen at $15.60 followed by $16.50, $17.50, and higher.

Trading recommendations:

Initiate long positions now, stop is at $14.25, a target is open.

Good luck!

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