Technical Forecast for Silver

Silver hit the target of 21.20/19 & this has marked the low so far. However today’s outlook remains negative so a break lower looks likely & should target 20.98 but we cannot rule out a test of May lows at 20.34 before we meet buyers.

 

Resistance at 21.47/53 should hold the topside today but shorts any need stops above 21.59 as we could then reach for 21.80/82 & a selling opportunity here.