SILVER Spot intraday: the bias remains bullish.

Pivot: 19.85
Preference: LONG positions above 19.85 with 20.5 & 20.85 as next targets.
Alternative scenario: The downside breakout of 19.85 will open the way to 19.25 & 18.85.
Comment: the next resistances are at 20.5 and then at 20.85.



The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.