Technical outlook and chart setups:
Silver rallied through $16.00/05 after testing lows of $15.50 on the back of the Greek crisis. The metal is expected to fall back to the levet $15.80 from here before rallying further up. Also, the metal has hit the support line turned resistance as depicted on the chart view. It is recommended to remain long and look for an opportunity to initiate further positions around $15.80 with risk at $15.30. Immediate support is seen at $15.50 followed by $15.30 and lower. Resistance is seen at $16.30/40 followed by $17.20/30 and higher respectively. Silver Need To Print on Daily
chart Higher low after print Lower Low Before Rally.
Trading recommendations: Remain long for now, stop is at $15.30, a target is open. Good luck!
Silver rallied through $16.00/05 after testing lows of $15.50 on the back of the Greek crisis. The metal is expected to fall back to the levet $15.80 from here before rallying further up. Also, the metal has hit the support line turned resistance as depicted on the chart view. It is recommended to remain long and look for an opportunity to initiate further positions around $15.80 with risk at $15.30. Immediate support is seen at $15.50 followed by $15.30 and lower. Resistance is seen at $16.30/40 followed by $17.20/30 and higher respectively. Silver Need To Print on Daily
chart Higher low after print Lower Low Before Rally.
Trading recommendations: Remain long for now, stop is at $15.30, a target is open. Good luck!