FX.co ★ Technical analysis of Silver for April 01, 2014.

Technical outlook and chart setups:

1. The 8H chart view for Silver indicates that there is no change in the structure of price range for now. At this moment of writing, Silver trades at $19.70/72 levels; and is expected to stage rally. Also please note that the trend line support remains intact for now.

2. Supports are spread through $19.00 levels, followed by $18.75 and lower, while resistance is at $21.70/80/$22.30/40 (intermediary), followed by $23.00 and higher up respectively.

3. The structure indicates that bulls remain in control above $19.00 levels for now. Silver should probably rise towards $23.00 and higher levels for now.

Trading recommendations:

Remain long for now and also look to add fresh positions, place stop at $19.25, target is open.

Good luck!