Technical analysis of Silver for January 04, 2016

ilver is seen to be trading around the $ 14.00 levels for now looking to break above $ 14.10 before producing a meaningful retracement. The metal is still controlled by bulls until prices stay above the $ 13.65 levels from here on. It is hence recommended to remain long for now with risk at the $ 13.45/55 levels. Immediate resistance is seen at the $ 14.10 levels, followed by $ 14.40, $ 14.60 and higher while support is seen at the $ 13.75 levels, followed by $ 13.65 and lower. Bulls are expected to push prices higher above at least $ 14.60 and subsequently $ 15.00.