Technical outlook and chart setups:
Silver is trading around $15.60 at the moment, looking for an opportunity to move above $15.80. Please note that the metal has been drifting in a tight trading range between $15.00 and $15.80 during last few sessions. A push below the level of $15.30 could prove to be bearish and open doors towards for testing $15.30 and $14.00 respectively. On the other hand, a push above $15.80 would test the level of $16.10. It is recommended to remain long now with risk at $15.30. Immediate support is found at $15.30 while resistance is seen at $15.80 respectively.
Remain long for now, stop is at $15.30, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com