Short term trend- Slightly bearish
Silver is trading in narrow range of 15.50 to 17.30 for the past five trading session and intraday trend is bearish as long as minor resistance 16.27 holds.
The silver’s minor resistance is around 16.27. On the upper side any break above $16.27 will target 16.82/17.03 in short term. Short term trend reversal only above $17.30.
Minor support is around $15.50 (Median line) and any break will target 15.05/14.
Indicators
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell Silver around $15.80, SL 16.27, Targets 15.05/14.55.
Silver is trading in narrow range of 15.50 to 17.30 for the past five trading session and intraday trend is bearish as long as minor resistance 16.27 holds.
The silver’s minor resistance is around 16.27. On the upper side any break above $16.27 will target 16.82/17.03 in short term. Short term trend reversal only above $17.30.
Minor support is around $15.50 (Median line) and any break will target 15.05/14.
Indicators
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell Silver around $15.80, SL 16.27, Targets 15.05/14.55.