Technical Outlook and Chart Setups:
Silver is testing resistance level again, and maybe this is the last time before reversing. A break above yesterday's highs technically opens the way towards 37.00 and higher. But if silver fails to do so, it will initiate the much awaited retracement after last rally. We favor the latter scenario since prices are in overbought area and RSI is turning down. Furthermore, a rally needs to be corrected before fresh highs are met. It is humbly recommended to restrain from buying at these levels and watch out for sell signals on shorter timeframes (4H). Go short again.
Trading Recommendations:
Flat for now, preparing to go short again.
Good Luck!
