Technical outlook and chart setups:
1. Silver prints lows at $18.80 yesterday before reversing again above the $19.00 levels. The pair could potentially rally from here on, provided $18.60/70 levels remain intact. Recommendations are to remain long risk remains below $18.50 for now.
2. Support is seen at $18.75, followed by $18.60 and lower while resistance is seen at $19.80/90, followed by $20.40, $21.70 and higher respectively.
3. The structure indicates that Silver still remains constructive till prices stay above $18.70 levels. The metal needs to break above at least $20.40 levels, for bulls to remain in control.
Trading recommendations:
Remain long, stop below $18.50, target is open.
Good luck!
