(25 JULY 2019)Silver spot ($):Intraday support around 16.4700.

Pivot (invalidation): 16.4700

Our preference

Long positions above 16.4700 with targets at 16.6300 & 16.7200 in extension.

Alternative scenario

Below 16.4700 look for further downside with 16.3100 & 16.1800 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be

limited.

(By Swissquote TRADING CENTRAL)