Overview

According to the attached H4 chart, a tight range dominates in the silver price trading since yesterday, thus it continues fluctuating around the 16.00 level. As long as the price is above the 15.40 level, the bullish trend is still suggested on an intraday and short-term basis, supported by the EMA50. Our main long-awaited targets begin at 16.30, followed by 16.85. A break of the latter level will push the price to achieve more gains in the longer term and change the medium-term trend to the upside. Therefore, we still expect the bullish trend in the upcoming sessions conditioned by holding above the 15.40 level. Remember our main targets starting at 16.30 and then at 16.85.