Silver may rise to 29.40 - 29.70

Pivot

28.50

Our preference

Long positions above 28.50 with targets at 29.40 & 29.70 in extension.

Alternative scenario

Below 28.50 look for further downside with 28.30 & 28.00 as targets.

Comment

The RSI is above its neutrality area at 50%.

Supports and resistances

30.00

29.70

29.40

28.94 Last

28.50

28.30

28.00

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