XAGUSD: Up or Down?

XAGUSD, Daily

XAGUSD is consolidating near the critical support area after a sharp fall. The price crossed the lower Bollinger Bands and the %R shows a big oversold condition.

• Consolidation below 28.800 support will drop Silver further lower to 26.600;

• A bounce-off support would take XAGUSD back to 30.100 and further to 32.100;