FX.co ★ Technical analysis of Silver for May 27, 2014

Technical outlook and chart setups:

1. Silver is seen to be bouncing off its lower support range around $19.20/30 at the moment. A bounce towards the $20.00 levels is expected from here on. A push through $20.40 is required to confirm that Silver could continue further upside. 

2. Support is seen at $19.00 levels, followed by $18.90, $18.75, $18.50 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 has potential to rally at least till $20.00 for now. The metal would be extremely bullish above $20.40 resistance.

Trading recommendations:

Remain long, stop below $18.50, target is open.

Good luck!