Silver chart overview

The price of silver tested the $19.00 level of resistance yesterday, failed to climb above, and turned again on the bearish side. During the Asian trading session, the price first fell below $18.80 and soon below the $18.60 level. The bearish trend continued in the European trading session, and the price fell to $18.38. We could soon test support at $18.20 from Monday. A strong dollar could easily push the price of silver below that level of support, and our target would then be the $18.00 level. For a bullish option, we need a new positive consolidation and a price return to the $18.80-$19.00 zone. Then we need to hold on there and move above the $19.20 level with a new bullish impulse. After that, the price would be better positioned to continue its recovery. Potential higher targets are the $19.40 and $19.60 levels.