FX.co - Silver Holds 32.50 Levels. Look Higher

2012-10-17T08:31:24

Long-term review

Technical Outlook and Chart Setups:

As it was depicted above, the following facts should be noted:

1. The downside Fibonacci extensions were met near 32.70/75 levels.

2. Support at 32.50 still holds good.

3. On the 4H Chart a pullback is hinting at a bullish reversal.

Trading Recommendations:

Hold on long positions taken earlier, stop just below 32.50, and target open.

Good Luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

FX.co ★ Silver Holds 32.50 Levels. Look Higher