Technical Outlook and Chart Setups:
Finally, silver produces the rally that has been expected since several past trading sessions. Looking into the structure now, silver has cleared intermediary resistance placed at 32.30 level but it still needs to get past 32.50/60 to confirm a convincing reversal ahead. Now support is at 30.60/70 levels and 30.20 level respectively. It is recommended to buy on dips towards the 31.50 region. Looking higher from here on.
Trading Recommendations:
Hold on long positions. Add on dips. Stop at 30.00. Target Open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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