Technical outlook and chart setups:

1. Silver is bouncing off the $19.50 levels which is the back side of resistance turned support line as seen here. A push above the $20.00 mark would more or less confirm that bulls want to stay for long and $20.40 would remain immediate target.

2. Support is seen at $19.50 (interim), followed by $19.00, $18.50/60, $18.20 and lower while resistance is at $20.40, followed by $21.70 and higher respectively.

3. The structure indicates that Silver is bearish below $20.40. A break there would change the trend to bullish.

Trading recommendations:

Remain flat for now. Watch for a reaction at the $20.00 levels.

Good luck!