Silver 61.8% retracement level - 10.372

Last weeks break to highs at 11.830 on Jul 12 and subsequent failure to sustain the move beyond former resistance from July 6 at 11.660 created threatening bearish divergence between daily price action and momentum, which was confirmed the break of trend-line support and July 10 10.930 Low, which was coincident with the 38.2% retracement of the 9.470 to 11.830 Advance.

Mondays break of 10.930 confirmed the bearish divergence threat and paves the way for extended weakness towards 10.372, the 61.8% retracement.
A break of this level would target to 10.030, 76.4% retracement and Jun 23 corrective low. This Level should eventually give way and set the scene for a re-test of the 9.470 reaction low from June 14.

Near-Term resistance cuts in at Tuesdays 11.185 high, but a break of July 12 11.830 top remains necessary to relieve the immediate bear threat.