Short term trend- Bearish
- Silver made a high of $15.90 and has slightly recovered from that level. Intraday trend is weak as long as it holds below resistance $16.27.
- Minor support is around 15 and any break will target $14.60 (100% projection of $19.89 to 16.67 from 17.81).
- Minor resistance is around $15.70 (23.6% retracement of $17.81 to 15.05). Dead cat bounce will happen above $15.70 up to 16.27.Recommendation: Sell Silver around $15.70, SL $16.27, Target $14.60.
The material has been provided by InstaForex Company – www.instaforex.com