Silver: Close Call 😮‍💨

That was a close call! Silver has missed our alternative scenario by a hair’s breadth by popping above the resistance at $25.49. As it has gotten its act together just in time though and has drawn back again, we still expect silver to return into our pink trend channel to move downwards below the support at $21.41.
However, although it has been narrowly avoided, our alternative scenario with a probability of 45% remains. If it prevails, silver should rise into the blue zone between $25.88 and $29.34 first before turning around again.