Short term trend- Bullish
Silver has made a high of $17.18 and is slightly retreating from that level.Intradayl trend is slightly bullish as long as minor support $16.50 holds.
The silver’s minor resistance is around $17.30. On the upper side any break above $17.30 will target $17.79/18.05 in short term. Short term trend reversal only above $18.20 (200 Day EMA
Major support is around $15.50 (Median line) and any break will target 15.05/14.
Indicators (Daily Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Silver around 17, SL 16.50, Target 17.79/18.18.
Silver has made a high of $17.18 and is slightly retreating from that level.Intradayl trend is slightly bullish as long as minor support $16.50 holds.
The silver’s minor resistance is around $17.30. On the upper side any break above $17.30 will target $17.79/18.05 in short term. Short term trend reversal only above $18.20 (200 Day EMA
Major support is around $15.50 (Median line) and any break will target 15.05/14.
Indicators (Daily Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Silver around 17, SL 16.50, Target 17.79/18.18.