FxWirePro

Silver Daily Outlook

FX:XAGUSD   Silver / U.S. Dollar
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Short term trend- Neutral
Silver is trading in narrow range of 15.50 to 17.30 for the past ten trading session and overall trend is neutral waiting for further trend confirmation.
The silver’s minor resistance is around 16.27. On the upper side any break above $16.27 will target 16.82/17.03 in short term. Short term trend reversal only above $17.30.
Minor support is around $15.50 ( Median line ) and any break will target 15.05/14.

Indicators
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Neutral

Recommendation: We prefer to remain neutral waiting for new confirmation signals.
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