FX.co ★ Silver Consolidates Further. Expect Breakout Higher

Technical Outlook and Chart Setups:

Speaking about silver, the structure remains unchanged at the moment. The only fact is consolidation/retracement is taking bit longer. Support region is around 31.70-32.00 levels, while resistance region begins from 33.30/40 levels at the moment. It is recommended to keep buying on dips and also please note to book partial profits at each resistance level. A break higher than 33.00 level, would confirm a bullish breakout and aggressive/further buying can be done. Higher from here on.

Trading Recommendations:

Hold on to long positions taken earlier on, buy on dips, stop at 30.50, and target open.

Good Luck!