FX.co ★ Technical analysis of Silver for March 18, 2014.

Technical outlook and chart setups:

1. Silver forms an intermediary top at $21.70/80 for now. A break below $20.60/70 level is required to push it further low towards $20.00/50. Recommendations are to remain flat for now and look to buy lower.

2. Immediate resistance is at $23.00, followed by $23.50, while supports are spread through $20.60 (intermediary), followed by $20.00/50, $19.00 and lower respectively.

3. The structure reveals that Silver should be forming bottom around $19.00/$20.00 levels for the next move higher towards $25.00.

Trading recommendations:

Remain flat for now, look to buy lower.

Good luck!