Ichimoku analysis (4 Hour chart)
Tenken-Sen- $26.84
Kijun-Sen- $27.32
Silver has taken support near 200-4H MA and recovered more than $1.50 on US dollar weakness. The precious metal has shown a massive ride in past months and surged more than 25%. DXY is trading below 91 levels, a dip till 90.35/90. The overall trend is bullish as long as support $25.90 holds.
Technically, silver's significant support is at $26 and violation below will drag the pair down to $25.48/$25/$24.05. The near term resistance is at $27.60, any surge past targets $28/$28.62/$29 is possible.
It is good to buy on dips around $26.95-27 with SL around $26 for TP of $29/$30
