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.
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.