Technical outlook and chart setups:
1. The metal is virtually unchanged from yesterday at $20.20 at the moment. It is expected to fall lower, and it is recommended to buy on dips from here on. Minimum expectations are the $19.40/19.00 region.
2. Immediate resistance at $20.50 has been taken off, higher one is at sub $21.00 level, while support is spread through $19.40/50, followed by $19.00, and $18.75 respectively.
3. Structure reveals that a dip is expected towards at least $19.40/19.00 levels before the next leg of rally resumes.
Trading recommendations:
Look to buy again on a dip towards $19.00/40 levels.
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 Technical analysis of Silver for January 20, 2014. . Thanks for your support on Technical analysis of Silver for January 20, 2014.
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