Rupesh
Long

Buy Silver

FX:XAGUSD   Silver/U.S. Dollar
79 2 3
Technical outlook and chart setups:
Silver             has bounced off the fibonacci 0.382 support around $16.90 earlier and is seen to be trading at $17.20 at the moment. The metal is poised to stage a rally through at least $17.50/60 before reversing lower. It could complete at the level $16.40/50 before resuming its rally. It is recommended to remain long for now with risk at $16.80. Immediate support is seen at $16.90 (interim) followed by $ 16.20, $15.80, and lower. Resistance is seen at $17.70 followed by $18.40/50 and higher respectively.

Trading recommendations: Remain long for now, stop at $ 17.10, a target $17.50/60.

Made High 17.32 Revised Stop loss at 17.10
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Target 1 One Achieved
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