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FX.co ★ Technical analysis of Silver for February 25, 2014.

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Forex Analysis:::2014-02-25T01:44:20

Technical analysis of Silver for February 25, 2014.

Technical analysis of Silver for February 25, 2014.

Technical outlook and chart setups:

1. Silver has taken out resistance at $22.06 yesterday. A meaningful pullback is awaited now. The metal remains in control of bulls but trading recommendations are to buy on dips from here on. Levels of interest are $20.00/50.

2. Immediate resistance is around $23.00. The bulls might be wanting to target it well before retracing lower. Support region is the $20.50 (past resistance), followed by $20.00 and $19.00 respectively.

3. The structure indicated that trend for long term might have changed to bullish already. Taking out $23.00 level would will ensure that bulls have firm control.

Trading recommendations:

Flat for now.

Good luck!


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