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SILVER Continued Weakness

Silver is decreasing further, trading below 16.60 and heading along the 16.48 range. Hourly support and resistance are given at 16.39 (14/02/2018 low) and 16.87 (06/03/2018 high). The 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).

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