Technical outlook and chart setups:
1. Silver has formed bottom around the sub $19.00 levels, 2 days back, and potentially seems to be ready to rally higher towards $22.50/60 levels in the coming weeks. It is recommended to remain long, risk remains below the $19.00 level.
2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.20, followed by $20.75, $21.70, and higher up.
3. The structure indicates that Silver could resume its rally from the current levels ($19.22), towards $22.50/60.
Trading recommendations:
Remain long, stop below $19.00, the target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
