Silver is trading well above the $ 17.00 level and the purchase of the zone of immediate downtrend line as seen here. Immediate resistance is now seen at $ 17.40 / 50, and the support is at $ 16.10 / 20 levels respectively. Bulls would like to aim for $ 17.40 / 50 levels between here and the price remains above the $ 16.20 level. Significant correction may be expected after resistance at $ 17.40 / 50 is removed. Note that the inverse head and shoulders reversal still possible, provided that the price remains above $ 14:50:00 in the sessions to come.
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