Silver Breaks Above Major Resistance at $17.75, Break Above Targets $18.45/$19

Silver Breaks Above Major Resistance at $17.75, Break Above Targets $18.45/$19

29 April 2016, 09:23
Roberto Jacobs
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Silver Breaks Above Major Resistance at $17.75, Break Above Targets $18.45/$19

  • Major resistance- $17.75 (May 15th 2015) 
  • Silver has broken major resistance at $17.75 and jumped till $17.85 from that level. It is currently trading around $17.69. 
  • Short term trend is bullish as long as support $17 (7 day EMA) holds. On the lower side any violation below $17 will drag the commodity down till $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 $17.55-$17.60 with SL around $16.85 for the TP of $18/$18.45.
  
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