Silver makes its way back as the US dollar retreats across the board. Breaking the daily support of 20.60 from last November could keep the downward pressure on the precious metal. Though the RSI’s oversold condition on the daily chart may warrant a brief bounce as some sellers take their chips off the table. 20.80 is a fresh support and the support-turned-resistance at 21.40 is the first hurdle. Then 21.90 near the 30-day SMA could be a tough level to crack as downbeat sentiment may lead sellers to double down.
