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 June 13, 2016

Technical outlook and chart setups:

Silver is seen to be trading at $17.25 levels at this moment, attempting to re-test its highs at $17.36 levels earlier before reversing. Please note that the metal is seen to have stalled at fibonacci 0.618 resistance levels of the drop between $18.00 through $15.80 levels. Furthermore, it has produced an engulfing bearish candlestick pattern on the 4H chart as depicted here. The high probability remains for a drop lower from current levels towards fresh lows below $15.80. Hence it is recommended to remain short from here and also look to add, with risk above $18.00 levels. Bears are expected to remain in control as long as prices stay below $18.00 levels. Immediate resistance is seen at $18.00 levels, while support is at $17.00 levels respectively.

Trading recommendations:

Remain short from here and also add further shorts, stop above $18.00 levels, target remains open.

Good luck!

The material has been provided by InstaForex Company -