Silver Closes In On Its Key Support At The 14.37/8 Zone

SILVER: With the commodity continuing to weaken on Monday, it is now building up for a move towards its key support at 14.37 level.

Resistance resides at the 15.10 level where a break will turn attention to the 15.30 level. A cut through here will open the door for a move higher towards the 15.50 level.

Further out, the 15.80 level comes in as the upside objective. Its daily RSI is bearish and pointing lower suggesting further weakness.

Conversely, support lies at the 14.70 level and if broken it could weaken further towards the 14.50 level where a break will aim at the 14.30 level followed by the 14.00 level and subsequently the 13.80 level.

All in all, Silver now looks to weaken further.