empty
 
 
07.10.2013 04:01 PM
Silver still remains in the Buy Zone of the rising trendline. 22.13 is resistance

This image is no longer relevant

Technical outlook and chart setups:

The metal has bounced off just ahead of the rising trendline as depicted here. A break of the 22.10/20 levels would instill confidence to bulls for an extended rally. Long positions, taken earlier, can be held with stop below the 20.00 levels. Resistance is at 22.10/20, followed by 22.40/50, 24.50 and higher; while support is seen at the 19.50 levels respectively. A break of rising trendline would prove quite bearish and can fall towards fresh lows as well. Looking to hold long positions above 20.00 for now.

Trading recommendations:

Hold long positions, stop below 20.00.

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