BUY SETUP ( SL CLOSE BLOW 16.625) (16 JAN 2016 TIME FRAME)
Updated
BUY SETUP >>>>>>>>>>>>>
Trade active
Friends My STOP LOSS IS ALWAYS DAILY CLOSE BLOWComment
Technical outlook and chart setups: Silver is still seen trading in a tight consolidation range of a cone type as depicted on the DAILY chart. The metal is bouncing between $13.70/80 levels as support and $14.20/40 levels as resistance. This subdue trading since several trading sessions might be an indicator for the next big move on either side. The break out should be awaited, on either side, which would be extremely powerful. It is recommended to trade in the range for now and then go along the breakout's direction. Immediate support is seen at $13.80 levels, while resistance is seen at $14.20 levels for now. A break above $14.30 and $14.60 would confirm that bulls are here to stay.
Trading recommendations: Trading in the range is a good strategy for now. Good luck!
Trade closed manually
Friends buy call given only for one week and silver unable to sustain on high level now exit from buy setup on monday morning.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.