FUNDAMENTALOVERVIEWSilver has been outperforminggold recently amid tailwinds like lower real yields, looser financialconditions and lower US dollar. The momentum and volatility have certainly notbeen the same since the late January’s crash. The key difference has been the Fedwhich has pivoted away from the dovish stance. Nonetheless, silver shouldremain supported amid the positive US-Iran deal expectations which should keepany downside limited. Everything now hinges onUS-Iran talks. If negotiations were to collapse again, we might get a bigger pullback,but as long as the ceasefire holds, the losses should remain limited. On theother hand, a peace deal might give silver another boost to extend the rallyinto new highs. For a much stronger rally though, silver would need the Fed topivot back to a dovish stance.SILVER TECHNICALANALYSIS – DAILY TIMEFRAMEOn the daily chart, we cansee that silver is continuing to slowly edge higher amid the positive US-Iranexpectations. The natural target for the buyers is the major swing level at96.35. If the price gets there, we can expect the sellers to step in with adefined risk above the swing level to position for a drop back into the 70.00handle. The buyers, on the other hand, will look for a break to increase thebullish bets into the 120.00 level next.SILVER TECHNICAL ANALYSIS –4 HOUR TIMEFRAMEOn the 4 hour chart, we cansee that the price broke above the key 77.98 resistance opening the door formore upside. We have an upward trendline defining the bullish momentum. If weget a pullback into the trendline, we can expect the buyers to lean on it witha defined risk below it to keep pushing into new highs. The sellers, on theother hand, will look for a break to pile in for a drop into the majortrendline around the 67.50 level.SILVER TECHNICAL ANALYSIS –1 HOUR TIMEFRAMEOn the 1 hour chart, therecent consolidation above the 77.98 level might have formed a bullish flag. Wecan expect the buyers to step in around the lower bound of the pattern to keeppushing into new highs and increase the bullish bets on a break above the upperbound of the flag. The sellers, on the other hand, will look for a break belowthe lower bound of the flag to extend the pullback into the upward trendline targetinga break below it. The red lines define the average daily range for today. This article was written by Giuseppe Dellamotta at investinglive.com.