Silver – near support zone
Silver has been trading in a higher top higher bottom formation signifying uptrend; however it has witnessed some correction in the near term. It currently stands at the 23.8% retracement level of the rise experienced from 31st March to 18th May indicating a rebound in the offing. It would be prudent to say that silver could rebound towards $28.10 and $28.60 while it sustains above $27.15.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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