Silver is continuing its bounce moves after a sharp correction but keeps heading lower. The short-term technical structure is negative as long as prices remain below the hourly resistance at 17.43 (15/01/2018 high). A key resistance stands at 18.21 (08/09/2017 high). An hourly support lies at 16.80 (reaction low).
In the long-term, the trend is rather negative. Further downside is very likely. The pair is trading at its 200 DMA. Resistance is located at 21.58 (10/07/2014 high). Strong support can be found at 11.75 (20/04/2009).