Silver surged after weaker-than-expected US manufacturing data sent Treasury yields lower. A break above 19.00 has prompted short-term sellers to cover their bets, easing the downward pressure. Then a pop above the psychological level of 20.00 attracted momentum buying. The precious metal is testing the daily resistance at 20.80, giving the bulls a chance to push back. A bullish breakout could pave the way for a reversal in the weeks to come. The resistance-turn-support at 19.50 is the first level for accumulation.
