Silver is decreasing further, breaking hourly support at 16.39 (14/02/2018) and heading along the 16.18 range. Hourly support and resistance are now given at 16.03 (05/12/2017 low) and 16.87 (06/03/2018 high). The technical structure suggests further 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).
