Silver rising pattern started in mid April weakens, falling from 17.36 high and heading along the 17.05 range. Hourly support and resistance are given at 16.65 (15/02/2018 low) and 17.43 (15/01/2018 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 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).
