FX.co ★ Technical analysis of Silver for April 14, 2014.

Technical outlook and chart setups:

1. Silver remains structurally unchanged at the moment. The metal is trading above $20.00 levels after having tested lows and bouncing off the trend line support last week around $19.60 levels. It is recommended to remain long for now, risk remains at $19.00/25. Immediate upside target seems to be $21.70 and $22.30, before rallying further.

2. Support is seen at $19.50/60 (intermediary), followed by $19.00, $18.75 and lower, while resistance is seen at $21.70, followed by $22.20/30 and higher respectively.

3. The structure indicated that Silver is poised to rally till prices stay above $19.00 levels for now. A break of $21.00 (resistance line) should accelerate the move higher.

Trading recommendations:

Remain long for now, stop is at $19.00, target is open.

Good luck!