Silver has broken major support $16(ascending triangle pattern) and made a low till $15.71.Overall trend is weak and decline till $13.65 cannot be ruled out.
Minor resistance is around $16.80 and any jump above will take the commodity to $17.60/18.50 in short term.
Indicators (Daily chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell Silver around $15.95-16, SL $16.80, target $13.70.
Minor resistance is around $16.80 and any jump above will take the commodity to $17.60/18.50 in short term.
Indicators (Daily chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell Silver around $15.95-16, SL $16.80, target $13.70.