FX.co ★ Technical analysis of Silver for April 23, 2015

Technical outlook and chart setups:

Silver is trading lower around the level of $15.80 after printing a shallow low at $15.70 yesterday. The pair is trading at a past resistance turned support region around $15.60/80 but a bullish reversal candlestick patter should appear here to confirm that the bottom is in place. It is still recommended to remain long with risk at $15.30. Immediate support is seen at $15.30 while resistance is seen at $16.20 and higher respectively. Bulls are expected to regain control until prices remain above $15.30.

Trading recommendations:

Remain long for now, stop at $15.10, a target is open.

Good luck!