Silver-
Ichimoku analysis (4- hour chart)
Tenken-Sen- $24.34
Kijun-Sen- $24.34
Silver pared some of its gains on an upbeat US CPI. It hit a low of $24 and is currently trading around $24.24.
Gold-silver ratio-
Gold/Silver ratio- 89.07. It shows that one ounce of gold is equivalent to 89.40 ounces of silver. It is good to buy silver at lower levels compared to gold.
Major trend reversal level -$24.65.
It trades above 21, 55- EMA, and 200 EMA in the 4-hour chart. The near-term support is around $24 and a break below targets of $23.60/$23.10/$22.75/$22.30. On the higher side, immediate resistance is around $24.60, any breach above targets is $25/$25.90.
It is good to buy on dips around $24 with SL around $23.60 for TP of $25.80.
