FX.co ★ Silver Consolidating, Breakdown Is Expected

Technical Outlook and Chart Setups:
As it can be seen from the chart, silver is following the immediate resistance line downside. Price resistance now comes at 30.00 level. We expect a breakdown anytime below 26.00 level, which has been providing support till now. Only above 29.00/30.00 levels the bearish outlook for the metal will be negated. It is recommended to sell intraday rallies.

Trade Recommendations:
Sell intraday rallies towards 27.50, stop above 30.00, target open.

Good Luck !