Silver Remains Bullish. Break above 29.00 Consistantly Trend News

Technical Outlook and Chart Setups:

As depicted on the 4H chart view here, silver has been also locked in a trading range between 28.50 and 29.00/10 for several days now. A breakout of such a narrow trading range normally takes 1-3 trading days, though this is not a thumb rule. Intermediary support on a pullback is around 28.30/40 level, followed by 28.00 as strong support (also the fibonacci 0.786 support of the entire upswing 26.00 to 35.00). It is recommended to hold long positions and add further if possible during intraday dips. Immediate resistance is 29.50, followed by 30.50 and higher.

Trade Recommendations:

Stay long for now, stop is at 27.00, target remains open for now. Please book partial profits at 29.50 and 20.50.

Good Luck!

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Gold Remains Unchanged. Bullish Bias towards 1660.00 Levels Seen. Trend News

Technical Outlook and Chart Setups:

As seen on the 4H chart view here, the yellow metal has spent one more trading session remaining locked between the trading range 1560/65 - 1585.00. These regions are defined as near-term support and resistance, respectively. It is still recommended to stay long for now and buy during dips. Strong support is at 1550/55 now and it is expected to hold well forming bast for the next upside extension higher. Immediate resistance is 1685.00; the metal is expected to rally on a break higher.

Trade Recommendations:

Stay long for now, stop 1530.00, target remains open (1660.00 is first soft target)

Good Luck!

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GBP/CHF Remains Short-Term Bearish. 1.4270/80 Intermediary Resistance Trend News

Technical Outlook and Chart Setups:

As depicted on the 4H chart, the structure remains unchanged from what was discussed yesterday. Prices have stalled at a 0.382 fibonacci support around 1.4180 for the moment. It is quite possible that the retracement continues towards the 0.618 fibonacci support at 1.4080 level as highlighted here. Intermediary resistance is at 1.4270/80, support should be just below the 1.41 mark. It is still recommended to remain short till 1.4080 levels before flipping trades.

Trade Recommendations:

Remain short for now, stop is at 1.43, target is at 1.4080. Then go long.

Good Luck!

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



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