Silver may fall to 29.00 - 29.20

Pivot

29.85

Our preference

Short positions below 29.85 with targets at 29.20 & 29.00 in extension.

Alternative scenario

Above 29.85 look for further upside with 30.05 & 30.25 as targets.

Comment

As long as 29.85 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

30.25

30.05

29.85

29.67 Last

29.20

29.00

28.80

Number of asterisks represents the strength of support and resistance levels.