Silver Unsteady

Silver is being very unsteady in its last days and has been a really difficult asset to handle. The metal is having good days and bad days every other day. It reached 18.73 a few days ago and then the next day it went to a high of 19.30 only to fall short and go back below 19. Currently, Silver is trading at 18.93 and as it looks, there isn't much to support the price from falling further.

Technically speaking, the metal is having difficulties sustaining its current price as market participants appear to be losing interest in holding it much longer. Moreover, if the US data scheduled for tomorrow turns out positive, bulls might lose momentum which will drive price to a possible first bear target at 18.40. If that level doesn't hold the bearish pressure, Silver might end up at the long term support zone around the 200SMA at 17.40

We have mild-impact news today coming from the US that would most likely have little to no impact on the price of Silver.

Chart: XAG/USD D1