Silver has exited uptrend channel, confirming that selling pressures are growing. Hourly support located at 20.00 (29/07/2016 low) has been broken while resistance is given at 21.13 (04/07/2016 high). Expected to further consolidate.

In the long-term, the metal is now in an increasing uptrend. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).

Daily Technical Report