FX.co ★ Silver just shy of 21.00 level. Remain long

Technical outlook and chart setups:

Silver hit 20.50 level yesterday. Minimum expectations are for 21.00 level before a meaningful retracement occurs. It is hence recommended to remain long for a while now. Resistance is at 22.50 level higher up, while support is at 19.20/30, followed by 18.70/57 and lower at 18.00 level. It is recommended to move risk to 19.00 level for now. The current level of 20.50 could provide resistance considering the fact that a fibonacci 0.5 resistance level and the dropping trendline are both passing through the same region.

Trading recommendations:

Remain long for now, move stop to 19.00, target is at 21.00.

Good luck!