Silver Is Testing the Resistance at 20.70

Silver has tested the resistance at 20.70 twice for the past few weeks and the second time was yesterday. Today it appears that it will make another attempt to test that resistance level, despite the shooting star candlestick that has formed below that level on the daily time-frame. Should this candlestick prove to be a false signal for a move to the downside and Silver breaks above the resistance at 20.70, it will likely continue rising towards the previous high at 21.10 that was formed in the beginning of July. A breakout above that level will likely lead to a further move to the upside towards 21.80 – 22.00.