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29.04.2014 09:13 AM
Technical analysis of Silver for April 29, 2014
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 Technical outlook and chart setups:

1. Silver is trading around $19.50/60 levels for now having formed lows at $18.90 last week. It needs to break $20.40 levels though before it can be confirmed that the metal has turned bullish. Recommendations are to remain flat for now.

2. Support is at $18.90, followed by $18.75, and $18.00 while resistance is at $20.40, $21.70, $22.30, and higher respectively.

3. The structure indicates that Silver remains cautiously bullish for now. A break of $20.40 would confirm the reversal.

Trading recommendations:

Remain flat for now.

Good luck!


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