The rising Treasury yields and US dollar weigh on precious metals. Some bargain hunters were eager to buy silver at the psychological level of 22.00, which is also critical support from the daily timeframe.
However, the rebound has seen strong selling interest at 23.10. Should buyers gather enough momentum to break free, 23.80 would be the next target.
On the downside, a bearish breakout would shake the last buyers out and conclude an eleven-month-long consolidation with a bearish reversal.
