Silver has been falling in a channelized manner since the last few months. It has formed a channel within a channel. On the downside, the white metal cracked through multiple previous lows and reached the lower end of both the channels. It has achieved the medium-term equality target on the downside.
Since then silver is in a recovery mode. It has formed a leading diagonal on the upside, and has done a minor-degree correction and has started fresh move up. The daily momentum indicator is also heading towards the north along with the price. The key level on the upside is at $21.80. The reversal can be trailed to $19.13.