Bullish pause.
(By Peter Rosenstrelch)
·Silver continues to strengthen as can be
seen by the break of the hourly resistance at
16.87. Succession of higher lows continues to
favor a bullish bias as long as uptrend floor
holds, Hourly support and resistance are given at
16.05 (01 /05/2018 low) and 17.35 (19/04/2018
high). The technical structure suggests short-
term upward moves,
·In the long-term, the trend remains negative/
sideways, Further downside is very likely.
Resistance is located at 21.58(，0/07/2014 high)
Strong support can be found at 11.75
(20/04/2009). The pair is trading below its 200
OMA.
