International silver has witnessed an impulse move from the low of 16.30. Currently, silver is in a corrective mode and has retraced 50% of the previous rise. Silver has multiple supports in the zone of 16.87–16.75. Dips towards the support zone shall be seen as buying opportunity, as long as it is trading above 16.30. On the way up, it has resistance at 17.28 – 17.46. If silver manages to break above the recent high of 17.46, then it is likely to inch higher towards 17.75–18.21. The daily momentum indicator is in a positive mode.
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