Despite being trapped within a tight range since the opening of this week, it seems that silver is continuing to lose any upside momentum with correctional attempts, as seen on the secondary four-hour chart. Alligator lines are currently covering prices as well and that could be a sign the bears may haul the pair downwards once again . Breaching 21.25 will confirm and accelerate.
Support: 21.50, 21.25, 21.00, 20.50, 20.25
Resistance: 22.00, 22.10, 22.50, 22.75, 23.30
Based on the chart and explanations above, we believe that selling the metal around 22.10 targeting 20.25 and stop loss at 23.30 could be appropriate.
Support: 21.50, 21.25, 21.00, 20.50, 20.25
Resistance: 22.00, 22.10, 22.50, 22.75, 23.30
Based on the chart and explanations above, we believe that selling the metal around 22.10 targeting 20.25 and stop loss at 23.30 could be appropriate.