The price of silver rose yesterday, but failed to stay stable above the resistance level of 14.73, which returned some of the decline today. However, trades are still in areas considered to be technically positive, and technical indicators are still indicating a potential for further upside. Therefore, we are likely to see a new attempt to rise today, and stability above the mentioned resistance.
But from the bottom, a break of 14.37 will negate any upside potential, while we prefer today to keep trading above 14.50 to keep the upside opportunity better.
Therefore, we think it is good to buy silver above 14.60 with the expected profit taking in two stages at 14.8015.00 and stop loss below 14.40.
