empty
 
 
29.09.2015 03:56 PM
Technical analysis of Silver for September 29, 2015

This image is no longer relevant

Technical outlook and chart setups:

Silver has bounced off exactly from the expected levels around $14.50 today. Please note that the metal found support at the confluences of trend line and fibonacci levels around $14.50. Furthermore, an engulfing bullish pattern was formed on the H4 chart indicating reversal. The metal should be targeting at the level of $1640.50. It is hence recommended to remain long now with risk at $14.00. Immediate support is seen at $14.25 followed by $14.00 and lower, while resistance is seen at $15.60 followed by $16.40/50 and higher.

Trading recommendations:

Remain long with stop at $14.00, a target is at $16.40/50 and higher.

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