FxWirePro

Silver Daily Outlook

Long
FX:XAGUSD   Silver / U.S. Dollar
1
Short term trend- Slightly bullish
Silver is trading in narrow range of 15.50 to 17.30 for the past ten trading session and overall trend is slightly bullish and is expected to reach 17.20 in short term.
The silver’s minor resistance is around 16.27. On the upper side any break above $16.27 will target 16.82/17.20 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- Buy

Recommendation: Buy Silver around 16, SL 15.50, Target 16.80/17.19.