Silver Rally To Gain Strength. Hold Long Positions and Buy On Dips Trend News

Technical Outlook and Charts Setups:

The structure remains very much constructive for bulls. As it is expected, the metal has retraced the recent rally till about 32.00 level before bouncing back. It is recommended to hold on to long positions taken earlier and also plan to build further long positions at these levels. It is quite possible that silver retracements could extend up to 31.70/60 levels, hence buying can be planned accordingly. Intermediary support begins around 32.00 level and extends through 31.00 level; while resistance is spread through 33.30/34.30 and 35.00 levels. Looking higher from here on.

Trading Recommendations:

Hold on to long positions, build further longs till sub 31.70 level. Stop at 30.50. Target open.

Good Luck!

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