Technical Outlook and Chart Setups:
As depicted on the Daily chart here, the metal has produced a Tweezer Bottom trading signal just ahead of the fibonacci 0.786 support level of 28.10. Furthermore, this region is also re-enforced by the past resistance turned support around 28.30/40 region. Considering the above facts it is highly recommended to continue staying long on positions taken last Friday around 28.50/60 region. Immediate support is around 28.00 followed by 27.50 and 27.00; while resistance begins from 30.00 region followed by 32.50 and higher. Looking higher from here.
Trade Recommendations:
Stay long from Fridays’ recommendations (28.50/60), stop is at 27.00, target is open.
Good Luck!
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| Performed by Harsh Japee, Analytical expert InstaForex Group © 2007-2013 |
Silver Produces a Tweezer Bottom on Daily Chart. Staying Long is Recommended
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