Technical outlook and chart setups:
Silver rallied through the level of $14.95 today before pulling back lower again.. Please note that levels of $15.00/10 are fibonacci 0.618 resistance as depicted here and a bearish reaction is expected. Bears are likely to remain in control of untill prices stay below $15.60. It is recommended to remain flat for now and trying to go short again around $15.00/10. Immediate support is seen at $14.00 followed by $13.00, $12.00, and lower while resistance is seen at $15.60 followed by $16.40/50 and higher.
Trading recommendations:
Remain flat for now.
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 September 09, 2015 . Thanks for your support.
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