Why silver can be the next big thing?

silver price target by nifty analysis

XAG/USD aka Silver is lying between its resistance and support range from $15.49288 to $15.18035 since last week. Although weak global scenarios making the prices sip through but still there are some hopes left for this precious metal, thinking about the kind of importance it is bearing in the course of time.
Before going to trade setup, let's have a look, how silver is keeping itself in the market this month so far.
Since mid-2016, silver is only looking the lower levels, descending in a triangular form, depicting the least interest taken by both buyers and sellers to give it a defined direction. Along with that, volume was also declining, except for in this month of June 2019, where buyers showed strong urge to buy it, possibly making this price attractive for them to enter in the ring.
With this, the resistance and support range established is 15.49288 (15.5sh zone) and 15.18035 respectively. At resistance is the confluence of declining slope since late 2016s and gave a strong rejection there for a possible pull-back in action.
What is expected next, in continuation of rejection of support (twice), is a bounce back of prices and valid breakout of resistance level, along with the slope, for next level of resistance R-2 at 15.63332 (up/down few pips). If on the other hand, it breaks the support, lowest level possible in the near future is the range of 15 to 14.98132, where 200MA also falls for an additional factor of reaction.
As per the trading strategy, not much interested in selling side unless it breaks the range (scalping is possible but with proper diligence). A buy will be initiated on bounce from support and break of previous day's high at around 15.37657 for safer side, stop order would be few points below support, for initial target of resistance level and then following up for break-outs and reactions at resistance (15.59288-15.5), resistance-2 (15.63332) for the ultimate target of 16.20277-16.25260 range.
As per the sources, world's largest primary silver miner, Pan American Silver has lost a significant percentage, attracting investors to jump in for possible opportunity for investment as an alternative asset, in place of conventional styles of investments like bonds, mutual funds, stocks, etc. Silver with its versatile usage and demand in different fields of industries, right from jewelry, to solar panels, from electronics to medicinal usages due to its anti-bacterial properties and least toxicity, it is gaining popularity and with this increasing demand, it's evergrowing importance. "Nifty Analysis" marks this metal to be an upcoming asset which will not only gain significance among various manufacturers and/or industrialists but also within investors to stake up for good in this precious material.