empty
 
 
11.01.2016 02:42 PM
Technical analysis of Silver for January 11, 2016.

This image is no longer relevant

Technical outlook and chart setups:

Silver is still seen trading in a tight consolidation range of a cone type as depicted on the H4 chart. The metal is bouncing between $13.70/80 levels as support and $14.20/40 levels as resistance. This subdue trading since several trading sessions might be an indicator for the next big move on either side. The break out should be awaited, on either side, which would be extremely powerful. It is recommended to trade in the range for now and then go along the breakout's direction. Immediate support is seen at $13.80 levels, while resistance is seen at $14.20 levels for now. A break above $14.30 and $14.60 would confirm that bulls are here to stay.

Trading recommendations:

Trading in the range is a good strategy for now.

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