Technical Analysis and Chart Setups:
Buying on dips is recommended in silver. The metal has been showing signs of bottom formation around 31.50 since last 2-3 trade sessions. Fridays' rally was good enough. If the rate passes through 32.50, then it instills further confidence in our bullish stance. 30.20 is strong support and by the time prices are above that level, the metal is headed north. Resistances are lined up as follows: 32.50, 33.20/30, 34.30, and 35.00. Long for now.
Trading Recommendations:
Hold on to long positions taken earlier. Stop at 31.00. Target Open.
Good Luck!
