SILVER Downside Pressure for $30.0000
Silver’s downside pressure remains after extending lower yesterday from its bearish reversal signal that was triggered by our DeMark™ exhaustion signal on 28th Feb.
The move is still holding beneath its 200-day average which is currently trading at $34.5562.
Watch near-term support at $31.6225 to unlock sharp setbacks back into $30.0000 (psychological level) and $28.9525.
The bulls need to push back above the 200-day average to maintain any potential recovery into $37.4750 (29th Feb high).