logo

FX.co ★ Silver remains vulnerable to more downside.

Silver remains vulnerable to more downside.

Silver remains vulnerable to more downside.

Blue horizontal lines- Fibonacci extension targets

See also: InstaForex is one of the leaders in the Forex market, 12 years on the market, more than 7,000,000 active clients

blue upward sloping line - support trend line broken

Black line- bearish RSI divergence

Silver price bounced towards $24 but failed to form a higher high. Price made a lower high and is now challenging January lows at $23.06. Price is at $23.20 right now with potential moving even lower towards our first target of $22.60 if it breaks below $23.05. Resistance remains at $24 and support at $23. We remain bearish in Silver after the bearish RSI divergence and the break down below the blue support trend line. Bears do not want to see Silver price above $24 as this will cancel the bearish pull back scenario.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account