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Short

Silver Daily outlook

FX:XAGUSD   Silver/U.S. Dollar
84 0 2
Silver             has retreated after making a high of $16.66. Intraday trend is weak as long as $16.35 (200 day 15 min MA) Holds.

On the upside any break above $16.35 would extend gains till $16.68/17 in short term.

The commodity short term support is around $16 and any break below will drag the commodity further down till $15.50/$15.

Indicators (1 Hour chart)

CCI (50) - Sell

Woodies CCI (14)- Sell

Ichimoku - Sell

Recommendation: Sell Silver             around $16.05, SL $16.35, Target $15.10.
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