For Traders

Analytical Reviews

Technical analysis

02.09.201508:47 Forex Analysis & Reviews: Technical analysis of Silver for September 02, 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:

The daily chart view for silver indicates that the metal is stalling around the fibonacci 0.382 resistance levels around $14.60/80 for now. A push above $14.80 could test $15.00 before reversing lower again. Please also note that the past support turned resistance at $14.40/50, where prices have stalled at the moment. It is recommended to initiate 50% short positions now remaining around $15.00 with risk at $15.80. Immediate support is seen at $14.00 (interim) followed by $13.00, $12.00, and lower, while resistance is seen at $15.60 and higher. Bears should remain in control until prices stay below $15.60.

Trading recommendations:

Initiate 50% shorts now, remaining around $15.00, stop is at $15.80, a target is open.

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.