Technical outlook and chart setups:
1. Silver is still trying to form bottom around sub $19.00 levels and there is no change in its expected direction for now. The metal needs to bounce from the current levels to enable bulls to take control back. It is still 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 $21.70, $22.30, and higher respectively.
3. The structure indicates that Silver still remains constructive for bulls till prices remain above the $18.60 level.
Trading recommendations:
Remain long for now, stop below $19.00, the target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
