Silver extended the bearish wave below the latest low at 19.38, to record a low at 18.70 this morning. The bearish scenario remains in play, a potential downside target reside at 18.55 and 18.00 levels. We maintain our bearish expectations.
Support: 19.00, 18.75, 18.50, 18.00, 17.75
Resistance: 19.55, 20.15, 20.50, 21.00, 21.50
Recommendation based on the chart and explanations above: We prefer to short silver below 19.35, targeting 18.85 and 18.50. Stop loss above 19.90
Support: 19.00, 18.75, 18.50, 18.00, 17.75
Resistance: 19.55, 20.15, 20.50, 21.00, 21.50
Recommendation based on the chart and explanations above: We prefer to short silver below 19.35, targeting 18.85 and 18.50. Stop loss above 19.90