Is silver getting ready for another dip?

As per daily silver is facing resistance at 50% fib retracement on previous bearish swing and its 60 days SMA around 35.32. Bearish cross over on MACD near zero line also suggesting some bearish environment. Silver having a psychological support at 33 breach of this level would signal a decline till 30.50 and 28 in coming days. Silver moving in a rising wedge on daily chart and 33 is support of this rising wedge. Rising wedge are always works as continuation pattern during down trend. These all ways are suggesting that this counter will remain in control of bears in coming days but we need a confirmation below 33 on daily closing basis. 35.40 will remain strong resistance for this view for targeting around 30.50-28.50 and 26.70 in coming days.

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Nifty Struggles at 24800: What Options Data Tells Us About Market Direction

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