During the Asian trading session, the price of silver solidified support at the $23.20 level and launched a new bullish impulse to the $23.50 level. We now see a downside pullback and could revisit this morning's support level. If the pressure on the lower support level increases, a breakout of the price below is inevitable. The price would then drop down to the $23.00 level. To continue the bearish option, we need a negative consolidation. Potential lower targets are the $22.80 and $22.60 levels. For a bullish option, we need a positive consolidation and a break above the $23.60 level. Then it is necessary to maintain up there and start further recovery with a new bullish impulse. Potential higher targets are the $23.80 and $24.00 levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.