Technical outlook and chart setups:
Silver is trading around $14.20 levels at the moment, after bouncing off the resistance turned support trend line at $14.05 levels, as depicted on the 4H chart view here. Please note that the metal could push through $14.55 and subsequently through $14.95 levels, if bulls are able to sustain $14.04 lows and subsequently $13.90 levels. It is still recommended to remain flat in the metal and wait for a break of at least $14.55 levels. Immediate interim support is seen at $14.04 levels, followed by $13.93 and lower, while resistance is seen at $14.55 levels, followed by $14.0 and higher respectively.
Trading recommendations:
Remain flat for now. Look for a break above $14.55 levels.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com