Silver approaching major level of resistance, keep an eye out!

Silver is approaching a major level of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this price to push price down to support at 15.62 (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 16.63 (Fibonacci retracement, horizontal pullback resistance).

Stochastic (34,3,1) is seeing major level of resistance at 99% where a corresponding drop could occur.

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