Technical outlook and chart setups: Silver had dropped to expected levels ($16.00/15.80 SEE 4 hourly charts ) yesterday before pulling back. This could be a final drop before a rally resumes towards $18.20/50 levels in the coming sessions. Bulls should be in control till prices stay above $15.60 and $15.30 levels subsequently. It is recommended to initiate fresh long positions here, with a risk below $15.30 levels. Immediate support is seen at $15.60 (interim), followed by $15.30 and lower while resistance is seen at $17.40/50 (interim), followed by $18.40/50 and higher respectively. Trading recommendations: Initiate fresh long positions around $16.20/25, stop at $15.60. BREAK OUT >>>> Break Out Direction is UP A target is open T1 16.70 and T2 17.20 T3 18.20 Good luck!
Comments
Rupesh003
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PLEASE REVISED STOP LOSS FROM 15.60 TO 16.40
Rupesh003
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Target1 First Achieved.
anthony.pham00
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I sort of agree with you..but I think we'll see another correction back to 14 range first.
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A rally or rise back to Mid 17's followed by a correction.