On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise to the pivot at 21.495 where the swing high resistance and 161.8% fibonacci extension are. Once we have upside confirmation, we would expect bullish momentum to carry price to intermediate resistance at 21.955 in line with swing high resistance and 127.8% fibonacci extension . Should price break intermediate resistance, we would have a bullish bias that price will rise to 1st resistance at 22.565 where swing high resistance is.
Alternatively, price could drop 1st support at 20.840 in line with the pullback support and 78.6% fibonacci projection .
As investors are seeking to hedge against inflation , we have a weak bullish view on silver .