Overview
From today's H4 chart we see that the metal is still trading between the support level of 20.50 and below the resistance level of 20.70. Silver failed to break the resistance level yesterday and bounced from it. It took a slightly downward move. Currently, it is retesting the support level of 20.50 again. Presently, we suggest waiting for closing above the resistance level of 20.70 in case it bounces from the support level to give us a new opportunity for more buy signals with the first target of few pips below the resistance level of 21.00. After breaking this resistance level, silver would open the way towards the Resistance level of 21.20, which means more bullish signals.
Resistance and support levels: R3(21.00), R2 (20.70), R1 (20.50), S1 (20.20), S2 (20.00), S3 (19.75).
