Silver: Trading below the 15.00!

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Daily-Term Analysis and Trading Recommendations for the daily- term investors on Silver             .
The daily-term trend according to the daily time frame is in a downtrend technically indicated by following:
• Dow pattern- lower tops and lower bottoms- T1,B1,T2,B2
• Price is currently trading below the downtrend-line.
Prices are trading below the strong support-turned-resistance level at 15.30(R1).
Bollinger Bands:
Bollinger Bands reflect direction with the 20-period SMA and volatility with the upper/lower bands. As such, they can be used to determine if prices are relatively high or low. According to Bollinger , the bands should contain 88-89% of price action, which makes a move outside the bands significant. Technically, prices are relatively high when above the upper band and relatively low when below the lower band. However, relatively high should not be regarded as bearish or as a sell signal. Likewise, relatively low should not be considered bullish or as a buy signal. According to the price chart, prices are outside the lower band and below the SMA , which means that prices are relatively low.
Commodity Channel Index ( CCI )
Identifying overbought and oversold levels can be tricky with the Commodity Channel Index ( CCI ).
• First, CCI is an unbound oscillator. Theoretically, there are no upside or downside limits. This makes an overbought or oversold assessment subjective.
• Second, assets can continue moving higher after an indicator becomes overbought. Likewise, assets can continue moving lower after an indicator becomes oversold.
The definition of overbought or oversold varies for the Commodity Channel Index ( CCI ). ±100 may work in a trading range, but more extreme levels are needed for other situations. ±200 (below -200 at CCI chart) is a much harder level to reach and more representative of a true extreme.
Trend changes can be identified when CCI crosses a specific threshold between zero and 100.
Therefore, I will recommend SHORT POSITIONS for the no position holders on Silver             . Take profit at 14.22-13.74-(S1-S2). Stop loss should be a bit above the resistance level-R1, thus the stop loss is at 15.60.
For SHORT-holders I will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
In case of move above the R1 and the downtrend trend-line, prices probably will move higher.
thx for sharing
Will the support hold or will we see a sellout?

Thanks. Very interesting idea. Good explanation.
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