Silver slightly recovered after making a low of $16.72. Intraday trend is bearish as long as resistance $17.40 (Support turned into resistance) holds.
On the downside minor support is around $16.70 and any break below will target $16.20/$15.60.
Silver is facing resistance around $17.40 and break above will take the commodity to $18.05/18.50.
Indicators (60 min chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell
Recommendation: Sell Silver around $17, SL $17.40, Targets $16.20/$15.60.
On the downside minor support is around $16.70 and any break below will target $16.20/$15.60.
Silver is facing resistance around $17.40 and break above will take the commodity to $18.05/18.50.
Indicators (60 min chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell
Recommendation: Sell Silver around $17, SL $17.40, Targets $16.20/$15.60.