FX.co ★ Technical analysis of Silver for July 22, 2014

Technical outlook and chart setups:

1. Silver still holds the sub $21.00 levels as seen here. The metal still needs to correct lower towards $20.00 and $19.60 levels before the uptrend could resume. Recommendations are to remain flat for now.

2. Support is seen at $20.00 levels, followed by $19.60, $18.60 and lower while resistance is seen at $21.40/70, followed by $22.30 and higher respectively.

3. The structure indicates that Silver correction could continue towards $20.00 levels for now.

Trading recommendations:

Remain flat for now.

Good luck!