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

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

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.

Popular

Pages

Expert In

Name*


Message*

Silver Technical Analysis for August 03, 2016.

Technical outlook and chart setups:

Silver has finally $20.80 levels yesterday as expected and discussed earlier. The metal is trading at $20.60 levels at this moment and looks to have completed its counter trend rally that began from sub $19.00/20 levels earlier. If the above wave count holds true and Silver fails to break above $21.13 levels, it should drop lower towards $18.00 levels going forward. Please note that the metal needs to break below $20.30 levels at least to confirm further bearish structure. The wave structure also indicates that a flat is now complete and the metal is expected to turn lower from current levels. It is recommended to remain short now, with risk above $21.13 levels. Immediate interim support is seen at $19.20 levels, while resistance is at $21.13 levels respectively.

Trading recommendations:

Remain short from $20.50 levels, stop above $21.13, target is lower.

Good luck!

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