Blue lines- bullish channel
Silver price is trading around $24.84. Over the last three sessions Silver price is mostly moving sideways. Price remains inside the medium-term upward sloping channel making higher highs and higher lows. As long as price respects the channel, we remain bullish. Support by the lower channel boundary is found at $24.48. Resistance is at recent highs of $25.08. So far there is no sign of a reversal or of a weakening up trend. The RSI is turning lower from overbought levels, implying that a pull back towards $24.50 is possible or at least a pause in the up trend. Bears need to break below $24.50 in order to reclaim control of the trend.
