Short term trend- Bullish
Silver has made a high of $16.65 and is slightly retreating from that level. Overall trend is slightly bullish as long as minor support $16 holds.
The silver’s minor resistance is around 16.80. On the upper side any break above $16.80 will target $17.30/17.79 in short term. Short term trend reversal only above $17.80.
Major support is around $15.50 (Median line) and any break will target 15.05/14.
Indicators (4 Hours Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Silver around 16.40-45, SL 16, Target 17.30/17.79.
Silver has made a high of $16.65 and is slightly retreating from that level. Overall trend is slightly bullish as long as minor support $16 holds.
The silver’s minor resistance is around 16.80. On the upper side any break above $16.80 will target $17.30/17.79 in short term. Short term trend reversal only above $17.80.
Major support is around $15.50 (Median line) and any break will target 15.05/14.
Indicators (4 Hours Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Silver around 16.40-45, SL 16, Target 17.30/17.79.