Technical Outlook and Chart Setups:
Silver is proving to be too strong around 26.50 level. Any selling pressure towards this region is met with strong pullback for almost 3 consecutive sessions. Very similar to the wave structure within gold, we expect the metal to breakout in the north side forming a thrust wave 3 towards at least 30.00 level in the coming sessions. We continue to recommend buy on dips towards 26.50/70 levels for a breakout above at least 29.00 level.
Trading Recommendations:
Buy on dips near 26.50/70, stop below 26.00, Target 30.00 at least.
Good Luck!
