FX.co ★ Technical analysis of Silver for April 24, 2015

Technical outlook and chart setups:

Silver remains unchanged from yesterday and is trading around $15.88. The metal has bounced off the fibonacci 0.786 around $15.70, which is also past resistance turned support. It is still recommended to hold long positions with risk at $15.30. Immediate support is seen at the level of $15.30 and lower while resistance is seen at $16.50 followed by $17.40/50, $18.40/50, and higher respectively. Silver bulls should remain in control until prices stay above the level of $15.30 in the coming sessions.

Trading recommendations:

Remain long, stop at $15.30, a target is open.

Good luck!