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The Silver Commodity Instrument on the 4-hour chart still appears to be moving within its Bullish bias, which is confirmed by the WMA (21) that has a slope which is going upwards and the movement of Silver prices is above the WMA (21) where in the near future Silver will try to break and close above the level of 37.214. If successful, then the level of 37.703 will be its main target and if the momentum and volatility support it, then 38.557 will be the next target for Silver. However, please also note that the appearance of Divergence between the movement of Silver prices and the Stochastic indicator gives a warning of the potential for a weakening correction in the near future, but as long as it does not breaks and close below the level of 35.430, Silver will continue to strengthen in accordance with what has been explained previously.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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