Silver breaks major trendline resistance at $14.75,targets $15.3

FX:XAGUSD   Silver / U.S. Dollar
214 4 6
Silver             has broken trend line resistance at $14.75 ( trend line joining $15.90 and $ 14.98) and this confirms short term bullishness, a jump till $15.30 cannot be ruled out.

On the downside minor support is around $14.60 and any weakness only below that level.

Any break below will target $14.35/$14.

The minor resistance are $15/$15.15.

It is good to buy around $14.78 with SL around $14.59 for the TP of $15.30
Great call on Silver, made some good profits
Rupesh Rupesh
Technical outlook and chart setups:
Silver breaks aboves its 50 Day moving average around the $14.70 levels as seen here. A successful break here and subsequently the $15.00 levels, could confirm that a meaningful bottom is in place around the $14.40 levels. It is hence recommended to remain long for now with risk at the $14.25 levels. Immediate support is seen at the $14.40/50 levels followed by $14.00, $13.00 and lower, while resistance is seen at the $15.00 levels followed by $15.30, $15.90 and higher respectively. Current rally is still a pullback and can find resistance around the $15.30 levels.
Trading recommendations: Remain long with stop at $14.35.
Good luck!

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