Silver plunges as the US dollar recovers across the board. On the daily chart, the price action reversed its course at the support-turned-resistance (20.80). A drop below previous lows at 19.60 suggested a lack of follow-up interest in the metal and triggered a wave of profit-taking. 18.80 at the base of last month’s bullish breakout is an important level to see whether there are still buyers left. Otherwise, the bears might push below 18.20. As the RSI dips into oversold territory, 19.50 is a fresh resistance in case of a bounce.
