Is silver about to head higher?

Investing.com - Silver Futures has been relatively volatile over the past few weeks, but despite the recent pullback from the high at $17.714, it could be getting set to rally again.The precious metal is currently trading at $16.533, relatively close to key support. Any further downside moves would need to surpass this level but downside risks are easing, Blackwell Global analyst Steven Knight says in an article published by Investing.com.The daily chart shows a relatively clear short term, rising trend line, implying support in the coming days. The RSI Oscillator is also near oversold levels. The Stochastic Oscillator also points to a potential reversal with a crossover, within oversold territory, seen in the past few days.However, it is relatively difficult to predict the timing of potential breakouts given some of the opaque actors behind the scenes, although building pressure for an upside correction in the coming days is relatively clear. Price action is currently being squeezed between a rising trend line and declining moving averages. Clearly, something must break and both of the oscillators seem to suggest that the upside is the probable direction.Silver is likely to see some bullishness in the coming days provided it can break through the declining moving average lines. If it can surmount this, we are likely to see a significant technical rally that could take it back towards the $17.582 mark.Fundamentals are also positive, with worsening U.S. economic data clouding the risk of further Federal Reserve action in the months ahead.