20.07.201516:49 Forex Analysis & Reviews: Technical analysis of Silver for July 20, 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.

Technical outlook and chart setups:

Silver is seen to be trading around the $14.80 levels at the moment after testing lows at the $14.50 levels earlier. The metal could bounce back from current levels if it manages to take out the $15.85/85 and $16.40 resistance levels subsequently. Please note that the metal could drop towards sub $13.00 levels as well before bouncing back at the long-term support trendline depicted on the monthly chart view here. It is therefore recommended to hold long positions for now with risk at the $14.25 levels. If prices drop lower, remain flat. Immediate support is seen at the $14.00 levels followed by $12.00/30, while resistance is seen at the $16.40 levels and higher respectively.

Trading recommendations:

Remain long until prices remain above the $14,25 levels.

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.