Technical Outlook and Chart Setups:
Believe it or not, silver is the same as gold. The top formed at 35.15 level last week is Head, 34.70/75 levels are the Left Shoulder and the recent rally is carving out a lower low at 34.75 level again. This could possibly be the Right Shoulder. The next step should be lower and minimum expectations are 32.00 level. On the other side, a clear break above, 35.25 level will take the metal higher upto 37.00 and 39.00 levels. The former one is high probability trade setup for now.
Trading Recommendations:
Go short again now, stop at 35.25/30 levels, target 32.00 and 30.00.
Good Luck!
