Current week at silver is very bullish. Yesterday price has tested 16.15 level, which is important resistance (price reached highest level since October 2015). It is likely that today’s shallow correction will finish by long bottom shadow at the chart. Nearest target for bulls is to break above 16.34 level which is the highest level since October 2015. Successful crashes through this resistance will be a strong signal which confirm bulls power.
There are also positive signals at weekly time-frame. Downtrend line was broke above and since the beginning of the year there are higher highs and higher lows at the chart which strengthen bulls. However you should wait with buy decisions until price will reach 16.34 level.
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Time-frame H4
Time-frame W1
