Bearish Threat Still Present

• RES 4: $21.967 - High Jun 17
• RES 3: $21.540 - High Jun 27
• RES 2: $20.876 - High Aug 15 and the bull trigger
• RES 1: $20.014 - High Sep 12
• PRICE: $18.709 @ 08:10 BST Sep 27
• SUP 1: $18.329/17.562 - Low Sep 26 / Low Sep 1 and bear trigger
• SUP 2: $16.955 - Low Jun 15 2020
• SUP 3: $16.473 - 1.00 proj of the Jun 6 - Jul 14 - Aug 10 price swing
• SUP 4: $15.998 - 76.4% retracement of the 2020 - 2021 bull leg

Silver maintains a softer tone. The recent break of $18.845, Sep 12 low, signals the end of the recent corrective recovery between Sep 1 - 12. A continuation lower would pave the way for a move towards the key support and bear trigger at $17.562, the Sep 1 low. Clearance of this level would confirm a resumption of the broader downtrend. On the upside, a break of $20.014, Sep 12 high, is required to reinstate a bullish theme.