Silver hit our first upside target for profit taking at 2040/45 but failed below 2060/65. We then broke 2025/20 to keep the market under pressure in the bear trend & hit our targets of 2002 and 1981.
We are oversold but trying to pick a bottom in this bear trend is very risky. Watch for Fibonacci support at 1970 with a break lower likely to target 1947 then 1936 & possibly as far as 1922/18 next week.
Immediate resistance at 1995/97 then 2005 could hold a move higher. However if we continue higher look for a selling opportunity at 2022/27.