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Silver Futures

Silver chart overview

46
The price of silver tested the $19.00 level of resistance yesterday, failed to climb above, and turned again on the bearish side. During the Asian trading session, the price first fell below $18.80 and soon below the $18.60 level. The bearish trend continued in the European trading session, and the price fell to $18.38. We could soon test support at $18.20 from Monday. A strong dollar could easily push the price of silver below that level of support, and our target would then be the $18.00 level. For a bullish option, we need a new positive consolidation and a price return to the $18.80-$19.00 zone. Then we need to hold on there and move above the $19.20 level with a new bullish impulse. After that, the price would be better positioned to continue its recovery. Potential higher targets are the $19.40 and $19.60 levels.
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Trend Analysis

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Trend Analysis
Financebroker

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.