Ichimoku analysis (1-hourly chart)
Tenken-Sen- $24.73
Kijun-Sen- $24.97
Silver has lost more than $1.20 from a low of $24.05 on the weak US dollar. Short term trend is bullish as long as support $23.90 holds. US dollar index has declined once again after jumping to 90.94.
Technically, silver's significant support is at $25 and violation below will drag the pair down to $24.74/$24.55/$24. The near term resistance is at $25.60, any surge past confirms trend continuation. A jump till $26/$27 is possible.
It is good to buy on dips around $25 with SL around $24.70 for TP of $27.
