FX.co ★ Technical analysis of Silver for June 19, 2014

Technical outlook and chart setups:

1. Silver is seen to be breaking out of trend line resistance as seen here. The confirmation is above $20.00 levels though. Recommendations for now is to remain short with risk around $20.40 levels.

2. Support is seen at $19.40, followed by $19.00, $18.60 and lower while resistance is seen at $20.40, followed by $21.70 and higher respectively.

3. The structure indicates that Silver might be turning bullish; a break of $20.40 would confirm though.

Trading recommendations:

Remain flat (conservative trade setups). OR remain short with stop at $20.40.

Good luck!