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Silver Rally On Track Now. Looking Higher

2012-11-12 13:15:27 (читать в оригинале)

Technical Outlook and Chart Setups:

Silver rallied on Friday clearing the much needed 32.50 level. It is recommended to book partial profits on long positions at the moment. This could possibly be the beginning of a long-term reversal. Support shall be strong around 31.40/60 region, while the next resistance is lined up around 33.30/40 region. Technically, a pullback should materialize soon towards the 31.50/32.00 region before the next rally begins, towards fresh highs. Look higher after a dip.

Trading Recommendations:

Hold on to long positions taken earlier. Book partial profits at each target or resistance. Buy on a dip towards 31.50-32.00 region. Stop at 30.50. Stop loss shall be revised later.

Good Luck!

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