Short term trend- Bearish
Silver is struggling to break $16.72 (61.8% Retracement of $17.80 and $15.04) and any short term trend reversal only above that level.
The Silver minor resistance is around $16.27 and any indicative break would extend gain to$16.72/17.48 (50% retracement of 19.89 to 15.05) in the short term.
Minor support is around 15.80 and any break will target $15.05/ $14.60 (100% projection of $19.89 to 16.67 from 17.81).
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell Silver around $16.20, SL $16.72, Target $15.05.
Silver is struggling to break $16.72 (61.8% Retracement of $17.80 and $15.04) and any short term trend reversal only above that level.
The Silver minor resistance is around $16.27 and any indicative break would extend gain to$16.72/17.48 (50% retracement of 19.89 to 15.05) in the short term.
Minor support is around 15.80 and any break will target $15.05/ $14.60 (100% projection of $19.89 to 16.67 from 17.81).
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell Silver around $16.20, SL $16.72, Target $15.05.