FX.co ★ Technical analysis of Silver for May 22, 2014

Technical outlook and chart setups:

1. Silver remains locked in consolidation at the moment around sub $19.00 levels as seen here, as the lower boundary of the range. The metal needs to push above $20.00 levels and subsequently break $20.40 levels to confirm further bullish possibilities.

2. Support is at $19.00 levels, followed by $18.75/90, $18.50/60 and lower, while resistance is seen at $20.40, followed by $21.70, $22.30 and higher up respectively.

3. The structure indicates that Silver should attempt to move towards $20.00 levels again and a push higher should be extremely bullish. 

Trading recommendations:

Remain long, stop at $19.00, target is open or Remain flat.

Good luck!