empty
 
 
25.01.2016 03:00 PM
Technical analysis of Silver for January 25, 2016

This image is no longer relevant

Technical outlook and chart setups:

SNow silver is trading higher around the levels of $14.20/25, but still remains inside the cone consolidation structure as seen on the H4 chart. The metal needs to break higher towards $14.35/40 to confirm a breakout of the consolidation. At the moment, it is bouncing off the resistance and support lines within the consolidation. It is hence recommended to keep trading accordingly, and then trade in the direction of a breakout. Immediate resistance is seen at $14.35, while support is found at $13.80/90.

Trading recommendations:

Buy at the support of $13.90/14.00 and sell at the resistance of $14.30/35 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