Silver has recovered till $ 16.66 after making a low of $16.12. Overall trend is weak as long as $16.68 (200 day HMA) Holds.
On the upside any break above $16.68 would extend gains till $17.30/17.48 in short term.
The commodity short term support is around $16.18 (trend line joining $15.37 and $16.12) and any break below will drag the commodity further down till $15.50/$15.
Indicators (1 Hour chart)
CCI (50) - Sell
CCI (14) – Sell
Ichimoku - Sell
Recommendation: Sell Silver around $16.30, SL $16.68, Target $15.50.