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22.08.201410:15 Forex Analysis & Reviews: Technical analysis of Silver for Aug 22, 2014

Long-term review

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Technical outlook and chart setups:

1. Silver might just have formed bottom yesterday at $19.30 levels as seen here. The metal has bounced of to intraday highs near $19.60 and is still expected to continue higher from here. Bulls should remain in control from here on.

2. Support is seen at the $19.00 levels, followed by $18.60 and lower, while resistance is seen at $20.10 (interim), followed by $20.80.$21.00, $21.70 and higher up respectively.

3. The structure indicates that Silver might have resumed the larger trend that is higher. A push through $20.10 levels would confirm.

Trading recommendations:

Remain long, stop below $19.00, target is open.

Good luck!

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