Silver is continuing its hike to higher ends after a sharp correction (12/08/2017 low at 15.61). The short-term technical structure is turning positive, as hourly resistance at 17.43 (15/01/2018) is now broken. Further resistance lies at 18.21 (08/09/2017 high). Hourly support is at 16.75 (23/01/2018 low).
In the long-term, the trend remains negative. Further downside is very likely. The pair is trading slightly above its 200 DMA. Resistance is located at 21.58 (10/07/2014 high). Strong support can be found at 11.75 (20/04/2009).
. The short-term technical structure is turning positive, as hourly resistance at 17.43 (15/01/2018) is now broken. Further resistance lies at 18.21 (08/09/2017 high). Hourly support is at 16.75 (23/01/2018 low).){kind=link}