FX.co ★ Technical analysis of Silver for February 04, 2014.

Technical outlook and chart setups:

1. Silver has produced a morning star at our expected levels of $19.00, as seen here. It is recommended to hold long positions. For now. the risk remains at $18.50.

2. Immediate support is at $18.75, followed by $18.00, while resistance is at $20.50 (intermediary), followed by sub $21.00 and $22.00 respectively.

3. The structure reveals that a higher low might be in place at $19.00 level now. Implications are that prices could rally from here towards $22.00 and higher in the coming weeks. $18.75 should hold for now.

Trading recommendations:

Remain long, stop at $18.50, target open.

Good luck!