Silver providing another buy opportunity now. Remain long targeting 25.00 and 26.00 at least Trend News

Technical outlook and chart setups:

Silver is providing another buy opportunity at the moment at 23.00 level. Immediate support is around 22.00 level for now, followed by 21.45 and 20.00 on the lower side, while resistance is at 26.10/20 region (which is also the past support turned resistance level as depicted here), followed by 28.10, 29.10/20, 32.10/20 and higher up. It is recommended to remain long for now with an upside target of 25.00 level at least. On the other hand, it should be noted that a break below 22.00 level could take prices towards 21.40/50, which is the past resistance turned support region on the weekly chart. The current price actions suggest a sideways movement and a break above 24.00 region is required to confirm further upside movement.

Trading recommendations:

Remain long for now, stop is at 21.50 level, targets are at 25.00 and 26.00.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



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