FxWirePro

Silver Short Term Outlook

Long
FX:XAGUSD   Silver / U.S. Dollar
3
Short term trend- Bullish
Silver is trading in narrow range between $17.30 and $16.90. On the upper side any break above $17.30 will target 17.81/18.11 in short term.
Overall trend is bullish as long as Support $16 holds and any short term trend reversal only below that level.
Minor support is around $16. 40 and any break will target $16/ $15.50 ( 50% retracement of $13.96 to 17.21).

Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) –Sell

Recommendation: Buy Silver around $17, SL $16.39, Target $17.78/18.10.