Silver may fall to 26.40 - 28.60

ST: under pressure.

Pivot

33.10

Our preference

Short positions below 33.10 with targets at 28.60 & 26.40 in extension.

Alternative scenario

Above 33.10 look for further upside with 34.80 & 36.00 as targets.

Comment

As long as 33.10 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

36.00 ***

34.80 ***

33.10 ***

30.95 Last

28.60 ***

26.40 ***

25.00 ***

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

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