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Silver Remains Strong. Eying 33.30 Level Now

2012-11-01 16:48:48 (читать в оригинале)

Technical Outlook and Chart Setups:

There is absolutely no change in bullish structure. The first measured extension at 32.50 has just been met. As depicted above, bulls are now eying 33.30 level (R1). Buying intraday dips is recommended and it should be the trade mantra in general. 31.50 is intermediary support followed by 30.20; it has held well till now. The dropping resistance line is passing through 33.50 at the moment and a bullish break through it will be one more proof that the metal is heading towards fresh highs.

Trading Recommendations:

Hold on to long positions taken earlier. Buy intraday dips. Stop at 31.00, Target Open.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com