Silver keeps the bounce off 200-bar SMA inside one-week-old ascending trend channel. Multiple failures to break the key SMA joins bullish chart pattern to favor buyers. Sellers can aim for monthly low on the downside break of the channel. Silver prices stay mildly positive while taking rounds to $27.17 during Thursday’s Asian session. The white metal has been trading beyond 200-bar SMA despite the MACD histogram’s recent weakness. Also portraying the commodity’s strength could be an upward sloping trend channel formation since September 09. As a result, $27.45 and the weekly high near $27.60 can lure silver buyers before highlighting the aforementioned channel’s resistance line, currently around $27.70. Also acting as an upside barrier is the 61.8% Fibonacci retracement of the early-month declines by the bullion, at $27.73 now. Alternatively, a 200-bar SMA level of $27.05 offers immediate support to the quote before the channel’s lower line, near $26.80, challenges the sellers. It should, however, be noted that silver bears’ dominance past-$26.80 will be targeting the monthly low of $25.84. Silver four-hour chart Trend: Further recovery expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI Price Analysis: Bears lurking for weekly swing trade opportunity FX Street 2 years Silver keeps the bounce off 200-bar SMA inside one-week-old ascending trend channel. Multiple failures to break the key SMA joins bullish chart pattern to favor buyers. Sellers can aim for monthly low on the downside break of the channel. Silver prices stay mildly positive while taking rounds to $27.17 during Thursday’s Asian session. The white metal has been trading beyond 200-bar SMA despite the MACD histogram’s recent weakness. Also portraying the commodity’s strength could be an upward sloping trend channel formation since September 09. As a result, $27.45 and the weekly high near $27.60 can lure silver buyers before highlighting… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.