Technical Outlook and Chart Setups:
After clearing 32.50 level yesterday, silver is retracing at the moment. 32.00 level should act as support now; it is recommended to buy intraday dips towards 32.00 level for targets above 33.00/30 levels immediately. 31.50 is intermediary support and 30.20 support is held till now. It is expected that the ongoing retracement should be well supported ahead of 31.50 level and then move higher. 33.30, 34.40, and 35.00 levels are lined up resistances for the bulls to target. Bullish for now.
Trading Recommendations:
Hold on to long positions taken earlier, add more positions now (32.00), stop at 31.00, and target open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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