Studying two charts - SLV - Silver ETF - Tracks silver price SIL - Global major silver producer ETF The chart still seems quite pessimistic and downtrend still intact.
For SIL - Support at approx $18 level. Immediate resistance to clear is 20 day MA at $20.2
For SLV - Support at approx $26. Immediate strong resistance at approx $30 where both 20 and 50 day MA is.
If global SIL stock stabilised near support, then rebound could happen from this level. For now, it is a 50-50 case.
Clearly, CCU as a small silver player, will need to wait for this trend to turn-around. :-(
CCU Price at posting:
34.9¢ Sentiment: Hold Disclosure: Held
