Technical outlook and chart setups:
1. Silver re-bounced just from the trend line support at $19.61 yesterday. It is trading well above the $20.00 levels at the moment and is expected to rally further towards $21.70 and higher up. It is recommended to remain long for now, risk remains at $19.20/25.
2. Support is at $19.00, followed by $18.75 and lower, while resistance is at $21.70, followed by $22.20/30, $23.00 and higher respectively.
3. The structure indicates that Silver is very much in the buy zone and racing towards $21.70 levels at least for now. Intraday dips should be considered as opportunities to go long.
Trading recommendations:
Remain long for now, stop is at $19.00/25, target is open.
Good luck!
