Silver chart overview

During the Asian session, the price of silver continued to retreat. In the European trading session, the price of silver fell to $19.20, the support level at 61.8% Fibonacci. Silver, like gold, is taking advantage of the current dollar weakness and is moving toward the $19.40 level. For a bullish option, we need a continuation of this positive consolidation and a move towards the $19.60 level at the 50.0% Fibonacci. Then we need to stay above it and try to continue the recovery. Potential higher targets are the $19.80 and $20.00 levels. For a bearish option, we need a continuation of the negative consolidation and a price drop below the $19.20 level. After that, the price of silver would continue its further retreat, looking for better support. Potential lower targets are $19.00, $18.80 and $18.60 levels.