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Short

Silver Daily Outlook

FX:XAGUSD   Silver / U.S. Dollar
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Short term trend- Slightly bearish
Silver is trading in narrow range of 15.50 to 17.30 for the past five trading session and overall trend is neutral waiting for further trend confirmation.
The silver’s minor resistance is around 16.27. On the upper side any break above $16.27 will target 16.82/17.03 in short term. Short term trend reversal only above $17.30.
Minor support is around $15.50 ( Median line ) and any break will target 15.05/14.

Indicators
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Sell

Recommendation: Sell Silver around $16, SL 16.27, Targets 15.50/15.05.

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