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SILVER - Weekly Report
By icn.com
Short Term trend: Bearish
Intraday Bias: BullishAs suggested last week, silver has started a bullish correctional bounce, approaching 20.15 key broken low and main resistance level, supported by the strong bullish divergences on momentum indicators. A break above 20.15 clears the way for further gains towards the main descending resistance shown on chart and probably 22.00 major area. Accordingly, we maintain our bullish view for the week.
** Short term ( Less than three months)
** Chart is based on GMT+2 timingNotes:
*if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
Support 19.55 19.30 19.00 18.50 18.30
Resistance 20.15 20.80 21.40 22.00 22.10
Recommendation Based on the chart and explanations above, we prefer to long silver around 19.30 , targeting 20.15,20.80 and 21.90.. Stop loss below 18.50
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