Technical Outlook and Chart Setup:
Last week we took into consideration that silver had bounced off the consolidation line support as depicted above and we have a Morning Star now. Immediate support comes just below 27.00 level while strong support is at 26.50 level. Bulls would now be targeting at 28.40/50 resistance levels and then at 30.00 level in the upcoming sessions. Intraday dips are opportunities to buy. We recommend holding to long positions for now targeting at 30.00 level.
Trading Recommendations:
Hold to long positions, buy intraday dips, stop at 26.50 and target 30.00
Good Luck!
