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Short

Silver Daily Outlook

FX:XAGUSD   Silver / U.S. Dollar
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Silver is facing resistance around $17.70 ( trend line joining $18.45 and $18.13) and is slightly retreating from that level.

Intraday trend is bearish as long as resistance $17.75 holds.

On the downside break below $16.80 (200 DAY 4 HMA ) will take the commodity to $16.21/$15.60.The break of $17.70 will pull silver to next target $18.15/$18.48.

Indicators (60 min chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell

Recommendation: Sell Silver around 17.20, SL 17.75, Targets $16.81/16.25.
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