Technical outlook and chart setups:
As depicted on the 4H chart view, the white metal is probing sloping resistance line at 32.20/30 levels. A clear break is needed now to re-instil further bullishness in silver. As depicted here, immediate support is at 31.60, followed by 30.00, and 29.22; while resistance is lined up from 32.50, 33.60/70, and 34.30 respectively. It is recommended to stay long on positions taken earlier and further add on intraday dips. Trend remains up, looking higher from here.
Trading recommendations:
Hold on to long positions taken earlier, buy further on dips, stop is at 29.50, and target remains 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: Strong buy remains on dips. 31.60 is immediate support . Thanks for your support on Silver: Strong buy remains on dips. 31.60 is immediate support
No comments:
Post a Comment