empty
 
 
10.08.2012 12:35 PM
Silver Remains Locked Under 28.30 Levels.

This image is no longer relevant

 

 

Technical Outlook and Chart Setups:
Patience is being tested here to the highest level. Any attempt towards 28.30 level is met with a strong selloff on the counter. And each time the counter fails to clear, the probability of a bullish breakout is increasing. This happens because previous lows/supports are not being broken. The rising wedge structure remains very much intact yet until 26.50-27.00 levels, we are recommending buy on dips and hold on to earlier long positions taken. This consolidation pattern assures a powerful breakout that may it be at any side.
Trading Recommendations:
Hold on to long positions taken earlier, stop 26.50, target 1650-1670-1700.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback