Technical outlook and chart setups:
The metal continues to drift sideways between 22.00 (Support) and 23.00 (Resistance) since several trading sessions. It is recommended to hold long positions taken earlier, but fresh long positions could be taken on a break above 23.00 level, which should be expected soon enough. Immediate resistance is at 23.00, followed by 24.00 and higher up; while immediate support is at 22.00, followed by 21.30/40, 20.75 and lower. Range trading is also recommended by selling the resistance and buying the support, for scalping. Breakout should be traded in the same direction.
Trading recommendations:
Hold on to long positions taken earlier, stop is at 20.50, and target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Silver continues trade in the range. Expect break above 23.00 soon . Thanks for your support on Silver continues trade in the range. Expect break above 23.00 soon
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