empty
 
 
29.05.2013 03:51 PM
Silver could be bought by at least 50% capacity at 22.90/95

This image is no longer relevant

Technical outlook and chart setups:

The metal continues moving sideways for a while and for now it is recommended to initiate at least 50% long positions at 22.90/95. The remaining 50% could be bought around 21.30/40, if prices fall to that level. Resistance is at 23.30 for now and a break above that would confirm an extended rally towards 25.50 at least. Higher up resistances are at 25.00 and 27.00 respectively. Intermediary supports are spread through 21.60, followed by 21.20/30 and lower. It looks like a bottom is in place at 20.00 level for the metal and is looking higher now.

Trading recommendations:

Long now at 22.90/95, stop is at 21.00, and targets are 25.00/50.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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