Silver has broken the support at 19.59. The subsequent move back to this broken support (acting now as a resistance) looks like a pullback. A short-term phase of weakness is likely. Hourly supports can be found at 19.26 (18/07/2013 low) and 18.72. A key resistance lies at 20.24.
In the medium-term, the downside risk implied by the break of the strong support at 26.07 (26/09/2011 low) is 18.13. A key support can be found at 17.06 (05/05/2010 low). The recent rise is viewed as a short-term rebound.
Daily Technical Report
