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07.04.201503:42 Forex Analysis & Reviews: Technical analysis of Silver for April 07, 2015

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 07.04.2015 analysis

Technical outlook and chart setups:

Silver has dropped below the level of $17.00 as we discussed and expected earlier. The metal could still be unfolding its counter trend correction and push lower towards $16.00 before resuming rally. It is recommended to remain short with risk at the levels $17.50/60. A drop below $16.60 from here is likely to confirm the same. Immediate support is seen at $16.50/60 followed by $15.80 and lower, while resistance is seen at $17.40/50 followed by $17.80/85 and higher respectively. Bears are expected to remain in control untill prices stay below $17.40/50.

Trading recommendations:

Remain short, stop at $17.50/60, target $16.00.

Good luck!


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