Technical analysis of Silver for November 12, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is trading around $14.40 now still holding the fibonacci 0.786 support level as depicted on the daily chart. Bulls are still expected to regain control until prices stay broadly above $14.00. If this count holds, silver may easily rally above the levels of $16.30/40 in coming weeks. It is hence recommended to remain ling with risk at $14.00. Immediate support is seen at $14.00 and lower, while resistance is seen around $14.50, $15.10/20, and higher.

Trading recommendations:

Remain long with stop at $14.00, a target is open.

Good luck!

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