Technical outlook and chart setups:
1. Silver seems to have re-tested the sub $19.50 levels again. Prices should pass through the $20.20/30 intermediary resistance to instil further confidence in the bullish structure. Recommendations are to remain long for now, risk remains at $19.00 levels.
2. Support levels are at $19.00, followed by $18.75, and lower, while resistance begins from $21.70/$22.30 (intermediary), followed by $23.00 and higher up.
3. The structure remains constructive for bulls for now. Please note that the rising trend line support and $19.00 levels remain intact.
Trading recommendations:
Remain long for now, set stop below $19.25, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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