Technical outlook and chart setups:
As depicted here, Silver has rallied past 19.50 levels, confirming that 3 wave recovery is underway. The minimum estimated target is 21.00/20 levels from here on. It is recommended to hold long positions from yesterday, and also look to add further during intraday dips. Immediate resistance is seen at 20.25/30, while intermediary support levels are spread through 18.70/75 and 18.25 respectively. It is difficult to predict a confirm bottom having formed at sub 18.00 levels, but at least a corrective rally should materialize towards 21.00 levels from here on. We shall further review situation from there.
Trade recommendations:
Remain long, stop at 17.50, target 21.00
Good luck!
