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Silver Retracement Is Possible Towards 33.50 Region

2012-11-28 11:18:53 (читать в оригинале)

 Technical Outlook and Chart Setups:

Silver pullback is on track at the moment, and it is quite possible that the metal retraces till around the 33.40/50 levels. If a bullish bounce appears at the 33.50 mark, it is recommended to re-enter buying. Resistance is around the 35.00 mark followed by 35.25 region; while support is placed through 33.25, 32.80, followed by strong support at the 32.00 mark,  which is also the proposed right shoulder of the inverted head and shoulder reversal.

Trading Recommendations:

Flat for now, looking to enter buying around the 33.50 region.

Good Luck!

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