MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of Silver for December 02, 2014


Technical outlook and chart setups:


Silver raises past the first measured resistance at $16.70 levels as seen here, before pulling back. The metal confirms the first step of a potential bullish reversal now. It is recommended to book profits on the long positions initiated yesterday at current price at $16.30. Immediate support is around $15.30/40 levels (fibonacci 0.618), followed by $14.50 while resistance is at $17.40/50, followed by $17.80/18.00 levels and higher respectively. The metal might be carving out a potential inverted head and shoulder reversal from here on, where the right shoulder is projected around $15.30 levels. The metal is now expected to retrace lower towards $25.30/40 levels before turning bullish again for a potential trend reversal.


Trading recommendations:


Book profits on yesterdays long positions at market ($!6.25/30), place long entry orders again around $15.30/40, stop at $14.20, the target is open.


Good luck!


The material has been provided by InstaForex Company - www.instaforex.com