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Silver - Long-Term Reversal?

Silver is still consolidating after its recent surge. Hourly resistance can be found at 17.78 (18/05/2015) while support can be found at 14.79 (01/04/2016 low). Expected to see further consolidation before entering 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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