Silver Trades Well Above Major Resistance, Targets $18.45/$19

Silver Trades Well Above Major Resistance, Targets $18.45/$19

• Major resistance- $17.75 (May 15th 2015) 
• Silver has broken major resistance at $17.75 and jumped till $17.94 from that level. It is currently trading around $17.80. 
• Short term trend is bullish as long as support $17.20 (7 day EMA) holds. On the lower side any violation below $17.20 will drag the commodity down till $16.85/$16.50/$16.20/$15.85. 
• Any break above major resistance around $17.75 will take the commodity to next level till $18.45/$19.
  

It is good to buy at dips around $17.70-$17.75 with SL around $17.20 for the TP of $18.45/$19.

The material has been provided by InstaForex Company - www.instaforex.com