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Silver - Failed to Break Support at 15.13

Silver has recently sharply weakened, suggesting a potential short-term weakening bullish momentum. Hourly support is given at 15.13 (10/02/2016 low). Hourly resistances can be found at 15.43 (16/02/2016 high). Expected to enter into another upside move.

In the long-term, the break of the major support area between 18.64 (30/05/2014 low) and 18.22 (28/06/2013 low) confirms an underlying downtrend. Strong support can be found at 11.75 (20/04/2009). A key resistance stands at 18.89 (16/09/2014 high).

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