Silver is facing resistance around $17.70 (trend line joining $18.45 and $18.13) and is slighty retreating from that level.
Intraday trend is bullish as long as support $16.75 (200 day 4 HMA) holds.
On the downside break below will take the commodity to $16.21/$15.60.The break of $17.70 will pull silver to next target $18.15/$18.48.
Indicators (4 Hour chart)
CCI (50) - Sell
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy Silver around $17.40, SL $16.75, Targets $18.15/18.48.
Intraday trend is bullish as long as support $16.75 (200 day 4 HMA) holds.
On the downside break below will take the commodity to $16.21/$15.60.The break of $17.70 will pull silver to next target $18.15/$18.48.
Indicators (4 Hour chart)
CCI (50) - Sell
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy Silver around $17.40, SL $16.75, Targets $18.15/18.48.