Overview
As shown in the today's H4 chart, the metal failed to break the Support level of 18.30 to bounce again and trade between the Support level and below the Resistance level of 18.50, and currently it is bouncing from the Support level and starting a bullish move. So we still suggest waiting for closing above the Resistance level of 18.50 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 18.75, then after breaking this Resistance level, silver would open the way towards the Resistance level of 19.00, which means more bullish signals, but as long as the metal trades below the Resistance level of 18.50 this cancels the bullish scenario.
Resistance and support levels: R3 (19.00), R2 (18.75), R1 (18.50), S1 (18.30), S2 (18.00), S3(17.75)
