Silver has given a signal of a reversal to the downside near the upper line of the bullish wedge formation. 25.25 will be a key resistance level for silver to go up. Despite Biden’s new program silver and gold continue to show signs of weakness. ETFs selling gold aggressively for a while, silver stood a lot more steady relative to gold but over time affected from the bullion more and more.
If silver can’t break the 25.25 resistance, the price may fall to Fibonacci %50 or %61.8 levels, 24.54 – 24.36.