Technical outlook and chart setups:
1. Silver dips to the $19.31 levels today, this was a possibility discussed earlier. The current level is fibonacci 0.786 support of the rally between $18.60 and $21.70. A bullish reversal here would keep the uptrend intact for the metal.
2. Support is seen at $19.00, followed by $18.60, while resistance is seen at $20.00, followed by $21.20, $21.70, $22.30 and higher respectively.
3. The structure indicates that Silver is expected to rebound from the current levels.
Trading recommendations:
Remain long, stop below $19.00, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
