Silver awaits breakout as traders are eyeing the Fed’s policy meeting. On the daily chart, the precious metal is still grinding the support-turned-resistance of 24.50 from last April. Last week’s recovery saw the topping candle ending with a long upper wick, which suggests rejection of levels above the psychological tag of 24.00. The choppy price action might have prompted buyers to take some chips off the table. 23.20 is the immediate support and its breach could cause a run to the next round number at 22.00.
