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Silver - Fading Demand On Strong Resistance Area

Silver has reached a level where bearish pressures seem important. Yet, the pair is exiting the bullish momentum. Hourly support can be located at 16.34 (06/01/2017 low) then 15.63 (20/12/2016).

In the long-term, the death cross indicates that further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).

Daily Technical Report

 

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