Buy Silver (SL On Closing Base blow 16.00)

FX:XAGUSD   Silver/U.S. Dollar
108 1 5
Technical outlook and chart setups:
Silver             hit a low of $16.40 yesterday as expected and discussed. Please note that $16.40 is also the fibonacci 0.618 support of a rally between $15.60 and $17.70/80 respectively.
Bullish recovery here on the H4 chart view would confirm that the bottom has been formed for the next rally to resume. It is hence recommended to remain long for now and look to add further positions at current levels with risk around $16.00. Immediate support is seen at $16.00/10 followed by $15.80, $15.60, and lower. Resistance is seen at $17.30/40 (interim) followed by $17.70/80, $18.40/50, and higher respectively.

About Weekly Reversal>>>> Silver             Already form a base (16.80 to 16.50) and jumped around 17.16 identified their closing target which is fib liv .50 % then breach their base 16.50 to retest again their base.

Trading recommendations: Remain long for now and look to add positions, stop is at $15.80, a target is open.
Good luck!

2 years ago
Yestardayt Silver closed blow 16.00.
so exit from buy call and wait for clear views and directions
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