Silver's testing a daily/weekly pivot

FX:XAGUSD   Silver / U.S. Dollar
$18.50 has been a critical technical level since June 2013, and we may see silver prices stall at this resistance today. If so, prices may fall back to the 200-DMA (currently $28.44), and any break below that would suggest a further decline to possibly $16 over the medium term. On the upside, a new break above $18.50 could trigger enough bullish momentum to push prices back up to around $20.00 within a week to a week and a half's time. $20.60 remains a major resistance level to eventually breach before bulls can start really anticipating a gradual rise back to $25.
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