Overview
In today's H4 chart, the metal is still trading between the support level of 17.00 and below the resistance level of 17.30. After its failure to break the resistance level yesterday and the bounce from it. Silver took a slight downward move. Currently, it is approaching the support level of 17.00 again. Presently, we suggest waiting for closing above the resistance level of 17.30 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 17.50, then after breaking this resistance level, silver would open the way towards the resistance level of 17.75, which means more bullish signals.
Resistance and support levels: R3 (17.75), R2 (17.50), R1 (17.30), S1 (17.00), S2 (16.75), S3(16.50)