Silver bears catch a breather after refreshing multi-day low. Downside break of 100-day SMA directs sellers toward an ascending trend line from March 18. Bulls look for entries beyond previous support line. Having dropped to a fresh low since the mid-December, silver takes rounds to $24.60, down 2.70%, during early Monday. While a downside break of an ascending trend line from November 30 pleased the commodity sellers during last week, the latest south-run below 100-day SMA highlights a multi-month-old support line for sellers. It should be noted that an absence of oversold RSI adds strength to the downside momentum. That said, the $24.00 round-figure can offer an intermediate halt during the fall targeting an aforementioned support line, currently near $23.60. Also acting as the key support is 200-day SMA, at $22.07 now, followed by November’s low of $21.89. On the contrary, an upside break of 100-day SMA, currently around $25.03 can aim for November’s top near $26.00. However, any further rise needs to regain above the previous support line, at $27.25, to convince buyers. Additionally, the monthly high of $27.92 acts as an extra filter to the north. Overall, silver prices have some more room to the downside before confronting the key technical supports. Silver daily chart Trend: Further weakness expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin’s wild price action causes $1 billion in liquidations while bulls prepare for another leg up FX Street 1 year Silver bears catch a breather after refreshing multi-day low. Downside break of 100-day SMA directs sellers toward an ascending trend line from March 18. Bulls look for entries beyond previous support line. Having dropped to a fresh low since the mid-December, silver takes rounds to $24.60, down 2.70%, during early Monday. While a downside break of an ascending trend line from November 30 pleased the commodity sellers during last week, the latest south-run below 100-day SMA highlights a multi-month-old support line for sellers. It should be noted that an absence of oversold RSI adds strength to the downside momentum. That… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.