empty
 
 
25.04.2013 03:13 PM
Silver should gain bullish momentum anytime. 24.00 needs to be cleared

This image is no longer relevant

Technical outlook and chart setups:

The metal seems to be preparing to break above the trading range at 24.00 level. Looking into the current structure, it still remains sideways. A break above 24.00 would bring 26.00/50 levels into focus, while a break lower would bring 21.00/50 levels into focus. Please note that 26.00/50 region is resistance for now since the Fibonacci 0.618 level and past support turned resistance convergence remains. Support is at 22.00 level for now, followed by 21.45 and 20.00 levels on the lower side. Weekly charts show that 20.00/30 region is the past resistance turned support region for now. Hence a push lower from here would provide another long opportunity. It is recommended to initiate fresh long positions on a break above 24.00.

Trading recommendations:

Remain long for now, stop is at 21.90, and targets are at 25.00 and 26.00.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback