Short-term bullish momentum is fading.
• Silver's bullish pressures have faded after the
commodity reached hourly resistance at 16.94
(02/08/2017 high). The commodity has broken
hourly support at 16.25 (25/07/2017 low).
Expected to continue pushing lower.
• In the long-term, the death cross indicates that
further downsides are very likely. Resistance is
located at 25.11 (28/08/2013 high). Strong
support can be found at 11.75 (20/04/2009).