Silver is confirming the strong base around 16.35-20 and proves the right discipline with technical indicators and strong supports, and now it is taking a turn and targeting the 16.70 which if breached will open the way again till 17.70 as the upper limit of the range on the short term. Again the range is the master of the game rather than any extraordinary trend.
The trading range is among the key support level at 16.20nd the key resistance level at 17.70.
The general trend is to the upside as far as 13.20 remains intact, with targets at 22.00 and 25.00.
|Buy silver at 16.35 with a target at 16.70 and a stop loss below 16.20|