Support Appears Exposed

• RES 4: $24.666 - High Apr 22
• RES 3: $23.974 - Low Mar 29
• RES 2: $23.278 - High May 5
• RES 1: $22.373/517 - 50-day EMA / High Jun 6
• PRICE: $21.352 @ 07:24 BST Jun 23
• SUP 1: $20.896/20.464 - Low Jun 13 / Low May 13 and bear trigger
• SUP 2: $20.282 - 2.00 proj of the Mar 8 - 29 - Apr 18 price swing
• SUP 3: $20.000 - Psychological round number
• SUP 4: $19.581 - 2.236 proj of the Mar 8 - 29 - Apr 18 price swing

Silver is trading lower. The metal remains below its recent highs and the short-term outlook is bearish. Price recently tested levels above resistance at $22.446, May 27 high. A clear break of this level is still required to suggest scope for an extension higher and would also highlight a breach of the 50-day EMA, at $22.373. For bears, a stronger resumption of weakness would signal potential for a move towards key support at $20.464, May 13 low.