Silver is currently testing the intermediate resistance of its medium term bearish channel at 32.30 suggesting a decline. But a puncture of these levels will allow it to reach the upper limit of its channel at 33.00.
Technical indicators provide buy-signals supporting the assumption of a break of its resistance in the short term. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market will show a bullish opportunity as soon as the silver has broken its resistance at 32.30 with the 1st objective of 32.80, then of 33.00. A break of 32.10 will invalidate this plan.
