Silver recently reversed up with the daily Margin Star from the support area lying between the key support level
17.40 (former resistance from December), lower daily Bollinger Band, support trendline of the narrow down
channel from the start of January and the 61.8% Fibonacci retracement of the previous sharp impulse wave 1.
Given the clear uptrend visible on the daily Silver charts – Silver is likely extend the gains toward the next
resistance level 18.00 (intersecting with the resistance trendline of the aforementioned down channel from the
start of January).