Technical Outlook and Chart Setups:
As depicted here, Silver prices are bouncing off from the following points of convergance:
1. Trendline passing through the swing lows.
2. The 0.618 Fibonacci support around 26.50/60 levels.
3. Past resistance, which has turned support region, around 29.50 region.
4. The counter trend from swing highs is also getting completed at 29.50/60 levels.
5. Double bottom formations on the hourly chart, hinting reversal.
Trade Recommendations:
1. Hold on to buy positions taken earlier.
2. Buy aggressively around 29.90/95, stop is at 29.00/28.80, Target is at 37.00 and 41.00.
Good Luck !
