14.03.201414:54 Forex Analysis & Reviews: Technical analysis of Silver for March 14, 2014.

Long-term review

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Technical outlook and chart setups:

1. Silver remains unchanged for now, trading at sub $21.00 levels. Yesterday was a star doji, indicating that a move lower could be in store. It is recommended to remain short for now, risk remains at $21.70/80.

2. Immediate resistance is at $23.00 while supports are spread through $20.50, followed by $20.00 and lower towards $19.00 (please note that the trend line support is here).

3. The structure reveals that Silver is likely to bounce from sub $20.00/50 levels. Look to buy lower and target towards $23.00 and $24.00.

Trading recommendations:

Remain short for now, stop is at $21.70, target is $20.00.

Good luck!

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