Technical outlook and chart setups:
Silver had dropped to expected levels ($16.00/15.80 SEE 4 hourly charts ) yesterday before pulling back. This could be a final drop before a rally resumes towards $18.20/50 levels in the coming sessions.
Bulls should be in control till prices stay above $15.60 and $15.30 levels subsequently.
It is recommended to initiate fresh long positions here, with a risk below $15.30 levels. Immediate support is seen at $15.60 (interim), followed by $15.30 and lower while resistance is seen at $17.40/50 (interim), followed by $18.40/50 and higher respectively. Trading recommendations: Initiate fresh long positions around $16.20/25, stop at $15.60.
BREAK OUT >>>> Break Out Direction is UP
A target is open T1 16.70 and T2 17.20 T3 18.20
Good luck!
Silver had dropped to expected levels ($16.00/15.80 SEE 4 hourly charts ) yesterday before pulling back. This could be a final drop before a rally resumes towards $18.20/50 levels in the coming sessions.
Bulls should be in control till prices stay above $15.60 and $15.30 levels subsequently.
It is recommended to initiate fresh long positions here, with a risk below $15.30 levels. Immediate support is seen at $15.60 (interim), followed by $15.30 and lower while resistance is seen at $17.40/50 (interim), followed by $18.40/50 and higher respectively. Trading recommendations: Initiate fresh long positions around $16.20/25, stop at $15.60.
BREAK OUT >>>> Break Out Direction is UP
A target is open T1 16.70 and T2 17.20 T3 18.20
Good luck!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.