Silver continues to evolve within a declining channel. Resistances are given by the declining trendline (around 21.40) and 21.72. An hourly support lies at 20.61 (10/03/2014 low). Another support stands at 19.78.

In the long-term, the trend is negative. However, the potential higher low at 18.84 (31/12/2013 low) and the break of the resistance at 20.52 suggest a phase of stabilisation. A key resistance now stands at 23.09.

Daily Technical Report