FX.co ★ Technical analysis of Silver for March 24, 2014.

Technical outlook and chart setups:

1. Silver is trading too close to our expected/discussed levels of $20.00. Probability remains high for a bottom formation here, also please note that the past resistance turned support region is also coinciding for now. A bullish reversal here, should be bought. Recommendations are to hold earlier long positions and add further around $20.00 levels.

2. Immediate resistance interim is at $21.70/80, followed by $22.20/30, while supports are at $20.00, followed by $19.00 and lower respectively.

3. The entire structure reveals that Silver remains buy on dips for now. Watch out for a bottom formation between $20.00 and $19.50 here.

Trading recommendations:

Remain long and add further around $20.00, set stop at $19.20/25, target is open.

Good luck!