Technical outlook and chart setups:
Silver is trading lower around the level of $15.80 after printing a shallow low at $15.70 yesterday. The pair is trading at a past resistance turned support region around $15.60/80 but a bullish reversal candlestick patter should appear here to confirm that the bottom is in place. It is still recommended to remain long with risk at $15.30. Immediate support is seen at $15.30 while resistance is seen at $16.20 and higher respectively. Bulls are expected to regain control until prices remain above $15.30.
Trading recommendations:
Remain long for now, stop at $15.10, a target is open.
Good luck!
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of Silver for April 23, 2015 . Thanks for your support.
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