Overview
From the today's H4 chart, silver is still stabilizing above the Support level of 22.35 and could not break it and currently is bouncing from it towards the Resistance level of 23.90. So we still suggest waiting for closing above the Resistance level of 23.90 in case of bouncing from the Support level to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 24.40, then after breaking this Resistance level silver would open the way towards the Resistance level of 25.00, which means more bullish signals, but as long as the metal trades below the Resistance level of 23.90 this cancels the bullish scenario.
Resistance and support levels: R3 (25.00), R2 (24.40), R1 (23.90), S1 (23.35), S2 (22.80), S3(22.50).
