Silver (CME) (Z3) intraday: short term rebound
Our pivot point stands at 23.06.
Our preference: short term rebound.
Alternative scenario: the downside breakout of 23.06 would call for 22.84 and 22.71.
Comment: the RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Silver (CME) (Z3) stands above its 20 period moving average (23.20) but below its 50 period moving average (23.27).
Supports and resistances:
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