Technical analysis on Silver for July 5, 2018
Silver is showing bullish signs and a bullish classical pattern. Our target for silver is between $16.30 and $16.70. This scenario gets confirmed on a break above $16.11.
Red line – resistance
The resistance trend line is broken. Silver is consolidating near its highs and is forming a bullish flag pattern. A break above $16.10 will be a bullish signal and will most probably push price towards $16.30 first. I’m optimistic and I think we could see even $16.70 as the bounce unfolds today and tomorrow.