Silver still remains in the Buy Zone of the rising trendline. 22.13 is resistance
Technical outlook and chart setups:
The metal has bounced off just ahead of the rising trendline as depicted here. A break of the 22.10/20 levels would instill confidence to bulls for an extended rally. Long positions, taken earlier, can be held with stop below the 20.00 levels. Resistance is at 22.10/20, followed by 22.40/50, 24.50 and higher; while support is seen at the 19.50 levels respectively. A break of rising trendline would prove quite bearish and can fall towards fresh lows as well. Looking to hold long positions above 20.00 for now.
Hold long positions, stop below 20.00.
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