FX.co ★ Technical analysis of Silver for July 08, 2014

 Technical outlook and chart setups:

1. Silver is pushing higher to test recent tops printed around $21.20 levels. A failure to break higher would encourage bears to take control and push the metal lower into the $20.00's and $19.50's respectively.

2. Support is seen at $20.00, followed by $19.50/60, $18.60 and lower while resistance is seen at $21.70, followed by $22.30 and higher up respectively.

3. The structure indicates that Silver needs to correct lower before the rally could continue further and gain momentum.

Trading recommendations:

Remain short, stop at $21.60, target is $19.50/60.

Good luck!