Technical outlook and chart setups:
The overall trend structure remains unchanged for silver. Furthermore, as depicted here, the prices seem to be breaking out of the dropping line of resistance, above 32.00. Immediate resistance begins from 32.50, followed by 33.50/60, 34.30, and 35.10, while support begins from 31.00 level, followed by 30.20, and 29.22 respectively. It is recommended to hold long positions and also buy during intraday dips with a price target of 32.50 insight. Buying on dips strategy holds good for now.
Trading recommendations:
Hold long positions, add further on dips, stop is at 30.00, and target is open. Book partial profits at 33.50.
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: Trend remains intact. Prices breaking out of counter trendline. 32.50 is immediate target . Thanks for your support on Silver: Trend remains intact. Prices breaking out of counter trendline. 32.50 is immediate target
No comments:
Post a Comment