Silver bounced back after breaking hourly support at 16.27 (07/02/2018 low). Silver bearish pattern is maintained, heading for further decline along hourly support at 16.25 (12/01/2018 low). The short-term technical structure suggests further decline.
In the long-term, the trend remains negative/ sideways. Further downside is very likely. The pair is trading below its 200 DMA. Resistance is located at 21.58 (10/07/2014 high). Strong support can be found at 11.75 (20/04/2009).
. Silver bearish pattern is maintained, heading for further decline along hourly support at 16.25 (12/01/2018 low). The short-term technical structure suggests further decline.){kind=link}