Silver has made a high of $18 and is slightly retreating from that level. Intraday trend is slightly bullish as long as minor support $17 holds.
The silver’s minor resistance is around $18.15 (200 Day EMA). On the upper side any break above $18.15 will target $19.05 (61.8% retracement of $22.16 and $15.50) in short term.
Minor support is around $17.35 and any break will take the pair to 16.71/16.45.
Indicators (4 Hours Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Silver around 17.40, SL 17, Target 18.15/19.05.
The silver’s minor resistance is around $18.15 (200 Day EMA). On the upper side any break above $18.15 will target $19.05 (61.8% retracement of $22.16 and $15.50) in short term.
Minor support is around $17.35 and any break will take the pair to 16.71/16.45.
Indicators (4 Hours Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Silver around 17.40, SL 17, Target 18.15/19.05.