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


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

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.



Expert In



Technical analysis of Silver for May 15, 2016

Technical outlook and chart setups:

Silver dropped lower to $16.80 levels on Friday before pulling back. The metal is trading higher at $17.30 levels at this moment, expected to face resistance at $17.50 levels. Please note that $17.50 is also the fibonacci 0.618 resistance of the drop between $18.00 and $16.60 levels respectively. The metal is expected to produce a meaningful correction towards $16.00 levels going forward, as depicted on the 4H chart view. It is hence recommended to sell on rallies, with stop at $18.50 levels for now. Immediate support is seen at $16.60/80 levels, while resistance is at $17.60 levels respectively.

Trading recommendations:

Look to sell rallies through $17.50/60 levels, stop above $18.00 levels, target is open.

Good luck!

The material has been provided by InstaForex Company -