FX.co ★ lstanton | XAG/USD, SILVER

The situation with Silver is as follows. The price on the H4 chart continues to trade above the Ichimoku cloud, indicating a bullish momentum. This suggests considering a long position. The Stochastic indicator is pointing upwards. During the last trading session, the futures continued to move north, managing to stay above the pivot level. The bulls have continued to rise and are currently trading at a price of 28.29. The intraday targets for purchases are the resistances of the classic Pivot levels. I assume that the upward movement will continue from current levels, and a breakthrough of the first resistance level at 29.44 will lead to a new wave of growth and further movement north above the resistance line around 31.06. However, if bearish players return to the market, their reference point on the current section of the chart will be the support level at 26.52.