Technical Analysis and Chart Setups:
The bullish outlook remains unchanged for the metal. After moving a bit sideways for a few sessions, silver is preparing for break higher from here on. The support at 30.20 level is intact and it instills confidence that this bull trend maybe setting up to register higher highs. A clear break of 32.50 is still required to rule out further downside from here on. 33.20/30, 34.30, and 35.00 are the lined up resistances to be taken off in the coming sessions. Buying dips should be trading mantra for now.
Trading Recommendations:
Hold on long positions. Build further long positions. Stop at 31.00. Target Open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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