FX.co ★ Technical analysis of Silver for September 26, 2014

 Technical outlook and chart setups:

Silver is also looking to form a potential double bottom ahead of $17.00 levels as seen here on the 4H chart view. The formation would be confirmed, once $17.90/18.00 level is crossed. Immediate resistance is placed at sub $18.00 levels, followed by $18.50/60, $18.90 and higher up, while support is seen at $17.00/20 levels respectively. It is too early to predict for now, but a push above $18.00 would clear $18.60/90 levels on the higher side, breaking line of resistance. An aggressive trade setup would be to initiate long positions now, risk remains at $17.00. Bulls are looking to keep control with them for now, and a break above $18.00 levels would confirm.

Trading recommendations:

Aggressive trade setup would be to initiate long positions now, stop at $16.75, target is open.

Conservative trade setup would be to wait for a break above $18.00 levels and buy on dips.

Good luck!