Silver falls pulling back from a daily high of $27.73.
Technical analysis indicates the uptrend is intact with key support at the $27.05 level, marked by the 50% Fibonacci retracement.
If silver surpasses the $28.00 resistance, potential targets are $28.48 and possibly year highs near $29.76.
Conversely, breaking below $27.05 could lead to $26.41 and further declines.
Silver's price dropped 0.79% after hitting a daily high of $27.73, as another inflation report in the United States showed warmer-than-expected inflation. The grey metal failed to capitalize on the fall in US Treasury yields, courtesy of a stronger US Dollar. At the time of writing, the XAG/USD trades at $27.21.
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