Silver may rise to 31.60 - 32.50

ST: turning up.

Pivot

27.30

Our preference

Long positions above 27.30 with targets at 31.60 & 32.50 in extension.

Alternative scenario

Below 27.30 look for further downside with 26.00 & 24.20 as targets.

Comment

The RSI calls for a rebound.

Supports and resistances

34.00 ***

32.50 ***

31.60 ***

29.95 Last

27.30 ***

26.00 ***

24.20 ***

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

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