Silver near support zone

20 May 2021

Silver has been trading in a higher top higher bottom formation signifying uptrend; however it has witnessed some correction in the near term. It currently stands at the 23.8% retracement level of the rise experienced from 31st March to 18th May indicating a rebound in the offing. It would be prudent to say that silver could rebound towards $28.10 and $28.60 while it sustains above $27.15.

Prepared by
Technical Analysis Team

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