Silver showing some bullish momentum, RSI is above 60. Watch for a potential retest of the 78.00 level, which aligns with R1. If it breaks above, we could see a move towards R2. However, be cautious of the 200 SMA around 78.44, it could act as resistance.
Update: A close above 78.00 on the H4 chart would further confirm the bullish bias. I'll be looking for confirmation before entering a long position. SL placement below 77.00 seems reasonable to manage risk. Keep an eye on overall market sentiment as well, that could impact silver's direction.
