Technical outlook and chart setups:
Silver was trading within a triangle consolidation structure after having formed intermediary lows at $18.38 level earlier. The metal has broken above the consolidation as depicted on 1H chart view here and is seen to be trading at $18.90 level for now. Looking at the wave structure, there is no change and the metal still looks constructive for bulls to stage a rally from here. Please note that the metal seems to have terminated a regular flat (a-b-c) as wave 4 consolidation and the last leg rally has resumed (wave 5) from $18.38 levels. Furthermore, it still remains supported at fibonacci 0.50 levels of the entire rally between $15.70 and $21.13 levels respectively (not shown here). If this count holds true, the metal should push higher towards $20.80/21.00 levels going forward and a break above $19.00/10 levels would confirm the same. The metal is expected to remain in control of bulls, till prices stay above $18.25 level. It is hence recommended to remain long now, with stop below $18.25 level. Immediate resistance is seen at $19.20 level, while support is at $18.25 level respectively.
Trading recommendations:
Remain long for now, stop below $18.25, targets are at $20.80 and above $21.13.
Good luck!
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