We still need to see a break for the level 16.88 in order to confirm the movement towards 17.20 and 17.70. This is the way it should go for silver prices, and that's what the technical indicators say. The metal is still aiming higher gathering some momentum to continue achieving its targets, the risk limit for this short term bearish scenario lies at 16.35.

The trading range is among the key support level at 16.20 and 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.

Resistance16.70 16.86 16.92 17.05 17.20


Buy Silver above 16.45 with a target at 16.85 and a stop loss below 16.30.