FX.co ★ Technical analysis of Silver for April 28, 2014

Technical outlook and chart setups:

1. Silver is testing line of resistance at 19.60/70 levels at the moment. Bulls need to clear 20.40 at least to remain in control. A turn from current levels could possibly print fresh lows. Recommendations are to remain flat for now.

2. Support is at $18.75, followed by $18.00 while resistance is at $20.40, followed by $21.70/80, $22.30 and higher respectively.

3. The structure indicates that Silver could turn bullish again if $20.40 levels break down. It would be safe to buy on dips after that.

 Trading recommendations:

Remain flat for now.

Good luck!