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Old 06-03-2016, 09:25
piplaser piplaser is offline
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Default Technical analysis of Silver for7 March 2016

Technical outlook and chart setups:

Silver is trading at the levels of $15.22/25 at the moment, after hitting intraday highs of $15.30. The metal seems to be poised to push prices lower towards $14.80 and $14.60. The metal is trading ahead of its big brother gold by hitting fresh swing lows yesterday at $14.92. Furthermore, the dropping trend-line resistance is also being followed, keeping the intermediary trend intact. It is hence recommended to hold short positions with risk at $15.50. Immediate resistance is seen at $15.50, while support is seen at the level $14.90 (interim). Only a breakout above $15.50 should disturb the existing bearish setup.

Trading recommendations:

Remain short with stop at $15.50, a target is at $14.60.

Good luck!
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