empty
 
 
20.10.2015 03:15 PM
Technical analysis of Silver for October 20, 2015

This image is no longer relevant

Technical outlook and chart setups:

Silver seems to be testing a sloping resistance line around sub-levels of $16.00. Furthermore, its rally from $14.00 is still corrective and needs to break above the levels of $16.50 and $17.50 to confirm bullish reversal. It is now recommended to exit all long positions and remain flat waiting for a clear direction. Immediate support is seen at $15.50 followed by $15.00, $14.00, and lower, while resistance is seen at $16.50 followed by $17.50/60 and higher.

Trading recommendations:

Exit long positions and remain flat for now.

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