04.04.201316:01 Forex Analysis & Reviews: Silver prints fresh lows. Flat for now

Long-term review

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Technical outlook and chart setups:

A compressed daily chart view has been depicted here to look into overall, consolidation structure since last several months. Sub 26.00 level has been support, while resistance line has been sloping from 38/39 levels to 35.00 level. Immediate resistance is at 29.50, followed by 32.30, 34.10 and higher up; while support is around 26.00 region. Prices have reached pretty close to the support band of 26.00 and a reaction should be expected here. A bullish bounce should encourage bulls while a break below 26.00 would be a paradigm shift in trend. It is recommended to remain flat at least till tomorrow.

Trading recommendations:

Remain flat for now.

Good Luck!

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