Silver price on an ascending channel​

The green zone on the chart indicates a bullish channel which has recently been formed on silver price chart. The price line is currently showing 22.4028, which would be just above the midline of the ascending channel. The gray zone on the chart indicates a static support level. RSI has issued negative divergence signal and MACD is showing potential for bearish wave. The descending red line on the left side of the chart indicates a long term bearish trend line; and as you can see, the price has already broken above it. Traders can be waiting for the price line to fall to the base line of the green channel as well as the gray zone, and then if any ascending trigger is issued, they can enter long positions. The target for the ascending wave could be consider on 23.099 and 24.68. Please note that if the price breaks below the gray zone, the chance foe an ascending wave to occur would highly reduce.