Analysis of Silver for April 19, 2018

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Recently, Silver has been trading upwards. The price tested the level of $17.28. According to the Daily time – frame, I found a breakout of horizontal base (50 days), which is a sign that buyers are in control. I also found a strong Relative Strength reading, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $17.66

Resistance levels:

R1: $17.39

R2: $17.60

R3: $17.92

Support levels:

S1: $16.85

S2: $16.52

S3: $16.32

Trading recommendations for today: watch for potential buying opportunities.

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