Technical Outlook and Chart Setups:
Silver rallies through 32.00 level indicating further bullish scenario for the metal in the coming sessions. The next resistance is placed at 32.50 and a push through it will further confirm strength here. Support remains strong at 30.20 level. It appears that the pullback from sub 35.00 level may be over near 31.60 level (around yesterday’s lows). It is recommended to stay long and look to add positions on intraday dips from here on. Next immediate bullish target is 32.50 level. Long for now.
Trading Recommendations:
Stay long for now and add on intraday dips. Stop at 31.00. Target open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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