Technical Outlook and Trade Setups:
Nothing has changed structurally except that silver has retraced its early gains. We continue to remain bullish on the counter and recommend buying or holding long positions taken last week for an upside move at 30.00 levels. Support is strong at 26.50 on daily charts while intermediary resistance is around 28.90 levels. Stay long for now.
Trading Recommendations:
Hold on to long positions and/or buy on dips now. Target 30.00.
Good Luck!