Silver Range breakout
The white metal broke the upper end of the channel and cooled off the high point. On the way down, 15.98 – 15.80 shall provide support in the near term. In case of a pullback, dip towards this support levels shall be considered as buying opportunities. On the way up, the swing high of 16.58 shall act as a crucial resistance in the near term. The white metal is likely to rise higher towards 17.30 – 17.54 once it breaks above this swing high of 16.58. The bullish view on silver holds true as long as it does not close below the low of 15.00. The daily momentum indicator is bullish.