Overview
From the today's H4 chart, the metal is trading between the support level of 17.30 and below the resistance level of 17.50 after its failure to break the resistance level yesterday and has bounced from it to take a slightly downward move and currently is re-testing the support level of 17.30 repeating last week's scenario. Presently, we suggest waiting for closing above the resistance level of 17.50 in case it bounces 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 17.75, then after breaking this resistance level, silver would open the way towards the resistance level of 18.00, which means more bullish signals.
Resistance and support levels: R3 (18.00), R2 (17.75), R1 (17.50), S1 (17.30), S2 (17.00), S3(17.75)
