Technical outlook and chart setups:
Silver is trading around $16.20/30 for now and it is expected to move higher towards fresh swing highs in the coming sessions. The metal might be unfolding an inverted head and shoulder structure with the right shoulder having formed around the level of $16.00. It is therefore strongly recommended to remain long and also look to add dips further with risk at $15.30/50. Immediate interim support remains fixed at $16.00 followed by $15.80, $15.30, and lower while resistance is seen at $17.40/50 followed by $18.40/50 and higher respectively.
Trading recommendations:
Remain long, stop at $15.30/50, a target is open.
Good luck!
