Overview
In the today's H4 chart, silver is still stabilizing above the Support level of 20.20 after it could not break it last week. Currently, it is bouncing from it towards the Resistance level of 20.50. So, we still suggest waiting for closing above the next Resistance level in case of bouncing from the Support level to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 20.70. After breaking this Resistance level, silver would open the way towards the Resistance level of 21.00, which means more bullish signals, but as long as the metal trades below the Resistance level of 20.50, this cancels the bullish scenario.
Resistance and support levels: R3 (21.00), R2 (20.70), R1 (20.50), S1 (20.20), S2 (20.00), S3(19.75)