Silver Still Battered by the Bears
Silver managed to bounce off a little on Friday early European session, but got pulled again by the bears giving no chance to recover some ground from its earlier plunge on Thursday night, tumbling to its lowest since July 2020.
Silver still looks bearish according to the chart with a sell range between 20.91 to 20.94. So far, it slid to its lowest today as of 8:38 AM GMT at 20.74. If it breaks out after the first support of 20.05, the white metal will continue its downtrend and may manage to push the price lower at 18 mark, provided it will surpass the second support at 19.41.
On the flip side, silver might rebound from being red once it breaks the 21 level. It will be met with its first resistance at 21.39, followed by the next one at 21.66.