Technical Outlook and Chart Setups:
Finally prices have put on a morning star bullish signal on the Daily chart as depicted here. Furthermore, this bullish signal appears at a confluence of 0.618 Fibonacci support, trendline support and past resistance turned future support at 29.60 level. Immediate support is at 29.60 and till the time prices remain above this level, higher highs should form. Resistance begins from 32.50 level, followed with 33.50/60 and 34.30 levels on the higher side. It is highly recommended to remain long from earlier positions and add further on dips. Looking higher from here on.
Trading Recommendations:
Hold on to long positions taken earlier and also buy further on intraday dips. Stop is at 29.00. Target is open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via Silver Rallies Past 31.00 Level. Look To Buy On Dips . Thanks for your support on Silver Rallies Past 31.00 Level. Look To Buy On Dips
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