Silver is rising back following recent decline at 16.51 low, heading along the 16.65 range. Hourly support and resistance are given at 16.39 (14/02/2018 low) and 17.13 (19/01/2018 high). The technical structure suggests short-term increase.
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).
