Technical outlook and chart setups:
1. Silver is still looking to carve a higher low ahead of $19.00/20 levels as seen here. The metal is expected to accelerate its rally once prices push above $19.50 levels. It is recommended to remain long, risk remain below $19.00 levels.
2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.20, followed by $21.70, $22.30 and higher up respectively.
3. The structure indicates that Silver should remain constructive for bulls till prices remain above $19.00 levels.
Trading recommendations:
Remain long, stop below $19.00, target is open.
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 Sep 02, 2014 . Thanks for your support on Technical analysis of Silver for Sep 02, 2014
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