Silver recovers the mark of 28.72, though unable to break sideways trading

FXstreet.com (Barcelona) - Silver spot prices have managed to pare the vast majority of their losses Wednesday, having successfully rebounded off an intraday low of 28.21 earlier during European trading. Having recovered on European concerns, the white metal is now trading at USD $28.72 per oz. in these moments.

Moving forward, the MACD looks positive for silver, following the recovery staged this afternoon during American trading, in which support was tested at the 28.20 level. Looking ahead, silver bears will look to retest the 29.00 level this week, as this level has proved to be a strong psychological resistance.