Technical outlook and chart setups:
Silver has been locked in a trading range between the levels of $14.50 and $15.00 for several trading sessions. The metal is facing resistance at $15.00 now. It is hence recommended to remain flat and look for further confirmation. Immediate support is seen at the level of $14.00 followed by $13.00, $12.00, and lower, while resistance is seen at the level of $15.60 followed by $16.40, $17.50, and higher. A rally towards the territory above the levels of $15.00 could trigger.
The material has been provided by InstaForex Company – www.instaforex.com