FX.co ★ Technical analysis of Silver for May 07, 2014

 Trading outlook and chart setups:

1. Silver is trading around the sub $20.00 levels for now and bulls are attempting to break immediate resistance at $19.90/20.00 levels for now. If they succeed, all intraday pullbacks can be bought after that. Recommendations for now is to remain flat.

2. Support is at $18.90, followed by $18.75, $18.00 and lower while resistance is at $19.90/$20.00, followed by $20.40, $21.70 and higher respectively.

3. The structure indicates that Silver bulls are wanting to break $20.00 levels to confirm a change in at least short term trend.

Trading recommendations:

Remain flat for now.

Good luck!