Technical Forecast for Silver
Silver is mostly just moving sideways. Fibonacci support at 21.83 & then at 21.46/41 which could hold the downside today. A break lower looks unlikely but could target 21.19, possibly 20.98 but we expect to see a bounce from here.
If we can hold above 21.80 a move back up towards 22.10/20 is likely. Look for a selling opportunity here but shorts need stops above 22.45 as a break higher could target 22.60/70.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.