Silver bounced to 17.77 (as I expected in this expectation) and it fell again to 16.93.
This is the area of relaxation for silver and it seems that we will stay for within this range for 2 days or so. Buying silver around 16 to 16.50 seems to be a chance so, take the chance and buy around this range and keep it for long term.
Selling silver these days is not safe decision so, I prefer to wait for a while before doing so.
The Silver (XAG/USD) has the following major resistance and support levels:
- RESISTANCE: 19
- SUPPORT: 15
Breaking these levels in any direction will take us higher or lower.
My Daily BUY/SELL advice (30 pips stop loss applied):
- Buy: at 16.50 – Take profit 17.50 (100 pips profits)
- Buy: at 16 – Take profit 17.50 (150 pips profits)
This review is valid during trading week: 25th-29th May, 2015