SILVER (Spot) intraday: the downside prevails.
Pivot: 29.40
Our Preference: SHORT positions below 29.4 with targets @ 28.57 & 28.05.
Alternative scenario: The upside penetration of 29.4 will call for a rebound towards 29.7 & 30.18.
Comment: the RSI is capped by a declining trend line.
Trend: ST Consolidation; MT Range
Key levels Comment
30.18**
29.7**
29.4**
28.925 Last
28.57**
28.05*
28**
Pivot: 29.40
Our Preference: SHORT positions below 29.4 with targets @ 28.57 & 28.05.
Alternative scenario: The upside penetration of 29.4 will call for a rebound towards 29.7 & 30.18.
Comment: the RSI is capped by a declining trend line.
Trend: ST Consolidation; MT Range
Key levels Comment
30.18**
29.7**
29.4**
28.925 Last
28.57**
28.05*
28**
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