Silver - Ready To Bounce Back
Silver is trading within uptrend channel, confirming a persistent buying interest. Yet, the pair is monitoring the lower bound of this channel. Hourly support is located at 20.00 (29/07/2016 low) while resistance is given at 21.13 (04/07/2016 high). Expected to monitor resistance at 21.13 in the short-term.
In the long-term, the metal is now in an increasing uptrend. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).