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Silver Holds 31.50 Level. Look Higher Now.

2012-11-08 12:27:13 (читать в оригинале)

Technical Analysis and Chart Setups:

Silver could not rally past resistance at 32.65 yesterday; but the structure remains bullish since pullback has held 31.50 well. Intermediary support is at 30.60 and till the time the prices stay above this level, silver is headed higher. Resistance levels are placed at 32.65, 33.30, 34.30, and 35.00 respectively. It is recommended to buy on dips towards 31.50 level. An Inverse Head and Shoulders pattern will be ideal, if 32.65 level is broken. Nevertheless, silver should be looked higher from here.

Trading Recommendations:

Hold on to long positions. Stop at 30.00. Target Open.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com