• SILVER - Weekly Report

    The price moved to the downside and started the week below 19.00 which is negative and strengthens the negative possibility. A break below 18.57 represented in 113% correction on graph is significant to confirm the downside move, whereas this break is required to confirm extending bearishness towards 18.12 then further towards 17.30 and 17.02.

    Negativity is clear on MACD and AROON and Linear Regression Indicators are trading negatively supporting our negative expectations. Only a break above 19.34 could fail our expectations, while breachig 19.66 and stabilizing above it with a daily closing could form a new bullish wave.

    Support 18.57 18.41 18.12 18.00 17.80
    Resistance 18.80 19.00 19.13 19.25 19.34
    Based on the above, sell silver below 18.80 targeting 18.57, 18.12 then 17.30 and stop-loss above 19.34 this week

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