Breaking support at 16.58.
(By Yann Quelenn)
• Silver has reversed and has broken uptrend
channel by breaking support implied by its lower
bound. Strong resistance is given at 18.65
(17/04/2017 high) while support found at 16.58
(15/08/2017 high) has been broken. Expected to
show further bearish move.
• In the long-term, the trend is rater negative.
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).