Technical outlook and chart setups:
Silver tested recent lows at $15.80 yesterday before pulling back higher. The metal is trading around $15.93/95 at the moment and producing a bullish morning star candlestick pattern on the H4 chart again. Please note that the metal has managed to remain in the buy zone, keeping the bullish setup intact. It is recommended to remain long and also look to add further with risk at $15.30. Immediate support is seen at $15.60 followed by $15.30 and lower. Resistance is seen at $16.25 followed by $17.20 and higher respectively.
Trading recommendations:
Remain long, stop is at $15.30, a target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of Silver for June 12, 2015 . Thanks for your support.
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