Analysis of Silver for May 11, 2018

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Recently, Silver has been trading upwards. As I expected, the price tested the level of $16.74. According to the H4 time - frame, I found a successful breakout of the bullish flag in the background, which is a sign that buyers are in control. I also found a hidden bullish divergence on the RSI oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $17.10 and at the price of $17.30.

Resistance levels: R1: $16.81R2: $16.92R3: $17.10 Support levels: S1: $16.54S2: $16.35 S3: $16.28

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com