FxWirePro

Silver Daily Outlook

Long
FX:XAGUSD   Silver / U.S. Dollar
1
Short term trend- Slightly bullish
Silver has made a high of $16.69 and is slightly retreating from that level.Overall trend is slightly bullish as long as minor support $15.80 holds.
The silver’s minor resistance is around 16.69. On the upper side any break above $16.69 will target $17.30/17.79 in short term. Short term trend reversal only above $17.80.
Major 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: Buy Silver around 16.20, SL 15.80, Target 17.30/17.79.