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Trading Silver Comex using RSI Edge

Daily silver charts on comex is running into a price swing high. Here it may face temporary resistance at 16.95 levels. A close over this levels will be bullish for silver and it may further scale to 17.15 and 17.85 levels. A close over 16.95 levels will be required. The RSI is at in-flex point, price action above 16.90 will further decide course of the metal.

On the hourly charts a range shift in the RSI is seen followed by a very aggressive move into the bullish zones. The RSI form displays strength and the prices are expected to move up. But again the resistance zones on the daily chart will start acting. Though hourly charts suggests a minor pullback and trend continuation.

 

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