Technical outlook and chart setups:
Silver has remained unchanged from yesterday trading flat around the $15.85 levels at the moment. Please note that the metal is facing resistance around the 50-day moving average for now. A push lower could see $15.30 in the coming sessions. It is hence recommended to remain flat or aggressive setup would be to short with risk at the $16.40 levels. Immediate support is seen at the $15.50 levels (interim), followed by $15.30 (Fibonacci 0.50), $15.00 and lower, while resistance is seen at the $16.10 levels (interim), followed by $16.40/50, $17.50 and higher.
Remain flat for now, look to enter long at the $15.00/30 levels again.
The material has been provided by InstaForex Company – www.instaforex.com