Technical Outlook and Chart Setups:
Speaking about silver, the structure remains unchanged at the moment. The only fact is consolidation/retracement is taking bit longer. Support region is around 31.70-32.00 levels, while resistance region begins from 33.30/40 levels at the moment. It is recommended to keep buying on dips and also please note to book partial profits at each resistance level. A break higher than 33.00 level, would confirm a bullish breakout and aggressive/further buying can be done. Higher from here on.
Trading Recommendations:
Hold on to long positions taken earlier on, buy on dips, stop at 30.50, and target open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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