From areas around 28.50, silver slumped heavily and currently around 88.6% correction shown above at 27.45. RSI is within oversold areas and the metal is now trading at the lower Bollinger band. Accordingly, we do not rule out heavy fluctuations for silver and a possible upside correction, yet stability below 27.45 will negate any upside attempts and the metal will resume the decline. Therefore, we remain neutral for now on silver as we maintain our general bearish bias and wait for confirmations for the next move.
Recommendation : Based on the charts and explanations above, we remain neutral awaiting more confirmations