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Technical analysis of Silver for March 25, 2015


Technical outlook and chart setups:


Silver might be preparing to drop lower towards $16.00 before resuming rally. It is recommended to remain flat for now and look for buying at lower levels again. The metal has taken out initial resistance at $16.89 earlier and is expected to drop lower before pushing towards $17.50 and $18.00 subsequently. Immediate support is seen at the level of $16.60, followed by $15.80, $15.30 and lower while resistance is seen at $17.50 and higher respectively. Buying on dips could be a safe trading strategy for now.


Trading recommendations:


Remain flat for now and look to buy lower around $16.00.


Good luck!




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