Silver Intraday: watch 48.25.

Pivot: 47.50

Our preference: long positions above 47.50 with targets at 48.25 & 48.55 in extension.

Alternative scenario: below 47.50 look for further downside with 47.20 & 46.85 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:

48.85

48.55

48.25

47.92 Last

47.50

47.20

46.85