Silver breaks $17,marching towards 200 DMA
Silver is currently trading around $17.26 and is expected to reach $17.80/$18.45. Short term trend is bullish as long as support $16.80 holds.
The minor resistance is around $17.40 and any break above would extend gains till $17.80/$18.45
On the downside minor support is around $16.80 and break will drag the commodity further down till $16.35/$16
Indicators (Daily Chart)
CCI (50) - Buy
CCI (14) – Buy
CCI (14)-Buy
Recommendation: Buy Silver around $17.20 SL $16.79, Targets $17.80/$18.40.
The minor resistance is around $17.40 and any break above would extend gains till $17.80/$18.45
On the downside minor support is around $16.80 and break will drag the commodity further down till $16.35/$16
Indicators (Daily Chart)
CCI (50) - Buy
CCI (14) – Buy
CCI (14)-Buy
Recommendation: Buy Silver around $17.20 SL $16.79, Targets $17.80/$18.40.