Silver may rise to 29.50 - 31.60

ST: caution.

Pivot

27.40

Our preference

Long positions above 27.40 with targets at 29.50 & 31.60 in extension.

Alternative scenario

Below 27.40 look for further downside with 26.00 & 24.20 as targets.

Comment

The RSI is mixed and calls for caution.

Supports and resistances

32.85 ***

31.60 ***

29.50 ***

28.00 Last

27.40 ***

26.00 ***

24.20 ***

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

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