Technical outlook and chart setups:
1. Silver rallied through the $19.70 levels yesterday before pulling back sharply lower. At the moment, the metal is trading at $19.47, and is expected to rally further, completing a bullish reversal signal on the daily chart. Recommendation is to remain long, risk remains below $19.00
2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.20(interim), followed by $21.20/40 and higher respectively.
3. The structure indicates that Silver remains constructive till prices are above the $19.00 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
