Recently, Silver has been trading upwards. As I expected, the price tested the level of $16.59 and met my yesterday's target. According to the H4 time - frame, I found the breakout of a potential bullish flag, which is a sign that buyers are in control. I also found a potential end of bearish correction (ABC), which is a sign that Silver may trade higher. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $16.79 and at the price of $17.10.
Resistance levels:
R1: $16.62
R2: $16.75
R3: $16.89
Support levels:
S1: 16.34
S2: 16.21
S3: 16.07
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com