Silver chart overview

After the US inflation report, the price of silver fell sharply as the data showed that inflation was still strong. These results further strengthened the dollar, which caused goods denominated in dollars to fall. Potential lower support targets now are $18.40, $18.20 and $18.00 levels. For a bullish option, we need another positive consolidation and a return to the $19.00 level of previous support. Then we must stay in that zone and climb above the $19.20 level. After that, the price could more easily continue the bullish recovery with a new bullish impulse. Potential higher targets are the $19.40 and $19.60 levels.