Silver has formed triple bottom around of $16 and recovering from that level .Overall trend is still bullish as long $16 holds.
On the upside break of $16.85 will target $17.15/$17.50. The pair’s minor support is around $16 and any break below will drag the commodity to $15.50/15.
Indicators (4 hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Buy
Recommendation: Buy Silver around $16.50, SL $16, Targets $17.15/$17.40.
On the upside break of $16.85 will target $17.15/$17.50. The pair’s minor support is around $16 and any break below will drag the commodity to $15.50/15.
Indicators (4 hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Buy
Recommendation: Buy Silver around $16.50, SL $16, Targets $17.15/$17.40.