Technical Outlook and Chart Setups:
As with gold, yesterday’s fall can be termed as just a retracement, after the range breakout above 27.50 levels last week. Retracements are healthy signs indicating further movements left towards the trend. We continue to remain bullish on silver and suggest that 27.50/60 levels are good entry points for the next rally to resume. We expect this to happen in 1-2 trading sessions. The next upside targets are 29.00 and 30.00 levels in the coming sessions.
Trading Recommendations:
Stay long for now. Target 30.00 at least.
Good Luck!
