Technical outlook and chart setups:
1. Silver reverses right from trend line resistance and fibonacci 0.618 confluences around $19.90 levels as seen here. Intermediary support is seen at $19.30 levels for now. Recommendations are to remain short, risk remains at $20.40 levels.
2. Support is seen at $19.30, followed by $18.50/60, $18.20 and lower while resistance is seen at $20.00, followed by $20.40, $21.70 and higher up respectively.
3. The structure indicates that Silver is headed lower till prices remain below the $20.40 levels.
Trading recommendations:
Remain short, stop at $20.40, target is open.
Good luck!
