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 16, 2016

Technical outlook and chart setups:

Silver is seen to be trading at $17.70 levels, after printing highs at $17.85/90 levels today. The metal is expected to be looking lower from here and push below $15.80 levels at least, before turning higher again. The wave structure indicates that the metal rallied into 5 waves from $13.60 through $18.00 levels earlier. A drop from $18.00 towards $15.80 levels and subsequent rally towards $17.90 levels can be identified as wave A and B of a simple flat correction. If the above count holds true, the metal is expected to unfold into 5 waves towards Wave C and $15.30/50 levels as depicted on the chart view here. It is hence recommended to remain short for now, with risk above $18.00 levels. Immediate support is seen at $17.00 levels, while resistance is at $18.00 levels respectively.

Trading recommendations:

Remain short, stop is above $18.30 levels, target is $15.50.

Good luck!

The material has been provided by InstaForex Company -