Silver is challenging the support at 20.61. A decisive break would favour further weakness towards the support at 19.78. The short-term technical structure is negative as long as the resistance at 20.97 (19/03/2014 high) holds.
In the long-term, the trend is negative. However, the potential higher low at 18.84 (31/12/2013 low) and the break of the resistance at 20.52 suggest a phase of stabilisation. A key resistance now stands at 23.09.