20.10.201515:15 Forex Analysis & Reviews: Technical analysis of Silver for October 20, 2015

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Technical outlook and chart setups:

Silver seems to be testing a sloping resistance line around sub-levels of $16.00. Furthermore, its rally from $14.00 is still corrective and needs to break above the levels of $16.50 and $17.50 to confirm bullish reversal. It is now recommended to exit all long positions and remain flat waiting for a clear direction. Immediate support is seen at $15.50 followed by $15.00, $14.00, and lower, while resistance is seen at $16.50 followed by $17.50/60 and higher.

Trading recommendations:

Exit long positions and remain flat for now.

Good luck!

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