On the downside break below will take the pair to $16.75/$16.20 in short term.
The minor resistance is around 18.20 and break above will target $18.60/$19.05.
Indicator (1 hour Chart)
(50) – Sell
(14) – Sell
Recommendation: Sell silver around $17.52-57, SL 18.20, Targets $16.75/$16.25.
Typically (considering a prior strong uptrend and a very high OI, open interest) a pullback this week was expected. It's not a topping out process but rather a local bottomming out process. Next week I expect prior uptrend to continue with a high probability