04.07.201212:19 Forex Analysis & Reviews: Silver Technical Levels and Trading Recommendatios for July 4 , 2012

Long-term review

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Technical outlook and chart setups:

Silver is trading around $14.75 at the moment, consolidating in a cone manner as depicted here. A south-side breakout could push the metal down to test the level of $14.55 and lower to perform a bullish break of $15.20 and $15.50 respectively. It is recommended to hold long positions for now with risk at $14.25. Immediate support is seen at the level of $14.55 (interim), followed by $14.00, $13.00, and lower while resistance is seen at $15.20 followed by $15.50, $15.75 (interim), and higher respectively.

Trading recommendations:

Remain long with stop at the level of $14.25 for now.

Good luck!

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