Silver price juggles around $21.00 as the focus shifts to the US NFP report. US weekly jobless claims were almost unchanged near 207K for the week ending September 29. Silver price weakens after breaking down the H&S neckline at $22.11. ease to near 4.77% on expectations of cooling labor market conditions. The white metal has remained inside the woods as investors shift focus to the US Nonfarm Payrolls , which will provide a snapshot of the current status of the labor market.
Individuals claiming jobless benefits for the first time increased marginally to 207K from the former reading of 205K but lower than expectations of 210K. Silver technical analysis Silver price delivers a breakdown of the Head and Shoulder chart pattern on a daily scale, which results in a vertical sell-off. The white metal breaks sharply below the neckline of the aforementioned chart pattern plotted from June 23 low at $22.11. Potential support is placed from March 08 low at $19.93.