Silver is trading within the main ascending channel which represents the metal’s general trend; we can see a secondary channel carrying silver towards the main target over short term basis at 21.50 since the start of this month. 
The metal managed to breach the recorded top in May at 19.80 which supported the metal to the upside, where also the 100 MA is protecting the bullishness and supporting it from below.
On the other hand, momentum indicators are overbought which might increase the volatility towards the target; the bullish targets reside at the resistance for the main ascending channel at 23.50.
In general we expect the bullishness to prevail though breaching 19.80 might delay the upside targets temporarily.
By: Yasir Mubarak
Senior Technical Analyst
[email protected]
www.ecpulse.com