Silver is still moving within a descending channel after touching the key resistance of the mentioned channel together with overbought signals appearing on the William % R indicator and negative divergence formed and confirmed by the price action below 61.8% Fibonacci fan level at 11.17; all that still confirms the downside outlook.

The trading range for today is among the key support at 10.15 and the key resistance at 12.00

The general trend is to the downside as far as 14.70 remains intact with targets at 9.85 and 8.50

Resistance11.08 11.13 11.20 11.26 11.36


Sell silver below 10.92 with targets at 10.70 and stop loss above 11.16