Overview

Proceeding from today's H4 chart, silver is still stabilizing between the Support level of 34.25 and the Resistance level of 35.00 and fails to break the Resistance level of 35.00. If silver takes a bearish move and manages to break this Support level, this will be a strong indicator for the downward move and open the way towards the Support level of 33.90, then we should wait for the breakout of this level to continue the bearish move.
On the other hand, if the pair doesn't break the Support level of 34.25 and reverses its downward move, it may be a good opportunity for a bullish signals enabling the Resistance level of 35.00. The breakout of this Resistance level will denote a bullish strength providing new buy signals from this level till reaching the Resistance level of 35.60 then 36.00.
Based on the given H4 chart, technical indicators provide sell signals, but as long as the Support level 34.25 is unbroken, the upward move is still expected and invalidating the bearish outlook. Therefore, we should wait more confirmations before making the decision.

Resistance and Support levels

R3(36.00)
R2(35.60)
R1(35.00)

S1(34.25)
S2(33.90)
S3(33.25)

Trading Recommendations

According to previous analysis, we recommend selling in case of breaking the Support level of 34.25 with TP 33.75; SL closng 4 hours above the Resistance level might be appropriate.