SILVER: Silver continues to face downside pressure, closing flat the past week. It looks to weaken further in the new week.

Support lies at the 14.30 level and if broken the commodity could see further weakness towards the 14.00 level.  A break  of here if seen will aim at the 14.00 level followed by the 13.80 level and subsequently the 13.50 level.

Its weekly RSI is bearish and pointing lower suggesting further downside pressure.

Conversely, resistance resides at the 14.80 level where a break will turn attention to the 15.00 level. A cut through here will open the door for a move higher towards the 15.30 level. Further out, the 15.60 level comes in as the upside objective.

All in all, Silver remains biased to the downside in the medium term.