Silver short-term hike fades, following a break of hourly resistance at 16.83 (28/12/2017 high). Hourly support and resistance are now given at 16.25 (01/12/2017 low) and 16.98 (15/02/2018 high). The short-term technical structure suggests short-term decrease.
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).
