Silver chart overview

Today's silver price high is at the $21.40 level. We can say that we see the formation of a new lower high, and if we fail to move above the $21.40 level, we could see a bigger pullback in the price of silver. For a bearish option, we need a negative consolidation and a price drop to the $21.00 level. Increased pressure at that level could lead to a breakout below, and we could find ourselves again at yesterday's low at the $20.85 level. Failure to hold above would extend the bearish option. Potential lower targets are the $20.80 and $20.60 levels. For a bullish option, we need a positive consolidation and a move above the $21.40 level. Then we need to stay above and continue the recovery with a new bullish impulse. Potential higher targets are the $21.60 and $21.80 levels.