Technical outlook and chart setups:
in the daily chart it looks like a major bottom is under formation at 20.50 levels here. This is the third time that prices have bounced off 20.50 levels and another bullish signal here would be extremely bullish. Hence, it is recommended to remain long and also initiate further positions at current levels around 20.70/80. Intermediary support is at 20.50 levels, followed by 19.00, and sub 18.00 levels; while resistance is at 23.00 levels, followed by 25.00 and higher up respectively. A bullish reversal now and further push through 23.00 levels would confirm that prices are headed towards 28.00 levels.
Tradeing recommendations:
Remain long, initiate further positions, stop is at 20.00.
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 prints a low just below 20.50. Still remain long . Thanks for your support on Silver prints a low just below 20.50. Still remain long
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