FX.co ★ SILVER Intraday Technical Analysis

Silver is currently testing the intermediate support of its medium term bullish channel at 32.20 suggesting a rebound. However, a break of these levels will entail a return to the lower limit of this one to 31.20.
Technical indicators provide buy-signals supporting the assumption of a rebound in the short term. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market indicates a bullish opportunity at 32.20 with the 1st objective of 32.80, then 33.00. A break through 32.00 will change the plan.