26.02.201507:55 Forex Analysis & Reviews: Technical analysis of Silver for February 26, 2015.

Long-term review

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Technical outlook and chart setups:

Silver remains bullish, after bouncing off the fibonacci 0.618 support at $16.10 levels as depicted here. Bulls seem to have taken control for now with an immediate short-term target being at $17.50. It is highly recommended to remain long for now and consider buying more during intraday dips, with risk at $15.50 levels. Immediate support is seen at $16.00/10 (interim), followed by $15.50 and lower while resistance is seen through $17.40/50 levels (interim), followed by $18.40/50 and higher respectively. Bulls are poised to remain in control till prices stay above $15.50 levels. Upside potential is seen through $21.00 levels.

Trading recommendations:

Remain long for now, stop at $15.50, a target is open.

Good luck!

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