SILVER (XAG/USD) Next Week Outlook - 15.68 support level to be crossed for breakdown

Weekly price was on bearish market condition since the February 2012 with some ranging between Senkou Span A line on the top and key support levels on the bottom. For now - the price is ranging between the following:

• 17.74 resistance level which is is located inside Ichimoku cloud above 'reversal' Senkou Span A line as the border between primary bullish and the primary bearish on the chart, and
• 15.68 support level located far below Senkou Span A and Ichimoku cloud.

If the price breaks 15.68 support level so the primary bearish will be continuing without secondary ranging trend, otherwise we may see the total ranging for this pair up to the end of the next month for example.

W1 price is on primary bearish with secondary ranging market condition:

• The price is located to be below Senkou Span A line for the primary bearish with the ranging between 17.74 resistance and 15.68 support levels.
  
• Tenkan-sen line is below Kijun-sen line of Ichimoku indicator which is indicating the downtrend to be continuing.
  
• Chinkou Span line is crossing the price from above to below for good possible breakdown in the next future.
• Nearest support levels are 15.68 (W1).
• Nearest resistance level is 17.74 (W1).

If W1 price will break 15.68 support level on close W1 bar so the primary bearish will be continuing without ranging trend.
If W1 price will break 17.74 resistance level so we may see the reversal to the primary bullish condition with secondary ranging (the price will be inside Ichimoku cloud/kumo in this case)
If not so the price will be ranging between 17.74 and 15.68 levels

• Recommendation for long: watch close W1 price to break 17.74 for possible buy trade
• Recommendation to go short: watch W1 price to break 15.68 support level for possible sell trade
  
• Trading Summary: ranging

SUMMARY : ranging
TREND : bearish