Silver continues to trade higher for second consecutive day and closed above $15.50 for the first time since June 2018. This confirms major bullishness and a jump till $15.90/$ On the higher side, yellow metal is facing strong psychological resistance around $16.21 and break above will take the silver to next level till $17.40/$18.64.
The near term support is around $14.80-14.40 and any violation below will drag the commodity down till $13.90/12.55.Any break below $12.55 confirms minor weakness.
It is good to buy on dips around $15.40-15 with SL around $14.70 for the TP of $17.40-18.64.