Spot Silver May Setback To 19.50-19.40 Levels

Published 07/17/2013, 06:45 AM
Updated 05/14/2017, 06:45 AM
SI
-

Silver maintains the sideways trade, within the context of the bullish correctional wave, where price managed to break above the descending resistance for the triangle pattern shown on chart. Accordingly, the bullish bias is still favored over intraday basis, and a break above 20.30 may confirm further upside. Settling back below 19.50-19.40 may signal the correction has ended and price to resume the overall trend.
Spot Silver
Support: 19.65, 19.50, 19.25, 19.00, 18.70
Resistance: 20.13, 20.30, 20.50, 20.90, 21.40

Recommendation Long silver above 19.50 targets at 20.10 and 20.90. Stop loss below 19.00

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.