Silver Medium Term Outlook

FX:XAGUSD   Silver / U.S. Dollar
182 0
Silver has formed ascending triangle pattern and has broken major support $16 and so decline till $13.65 cannot be ruled out.Minor resistance is around $16.80 and any jump above will take the commodity to $17.60/18.50 in short term.

Indicators ( Daily chart )
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell Silver around $15.95-16, SL $16.80, target $13.70

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