Technical outlook and chart setups:
As depicted here on the Daily Chart view, Silver seems to have formed a major bottom/support at 29.20 level. This should set it up for fresh swing highs in the coming weeks. The resistance levels begin from 33.60/70, followed by 34.30.40, and 35.00/10, while 29.00 is strong support now. Looking into the smaller swing structure, the metal seemed to resume rally yesterday and is headed towards 34.40/50 levels immediately. Looking higher for now.
Trading recommendations:
Hold on to long positions, stop is at 30.00, and target is open. Book partial profits at 34.30/50.
Good Luck!
