The negative divergence appears on RSI 14 alongside the obvious bearish candlestick formation ,seen on the four-hour chart signal that, silver is still influenced negatively by the Bearish harmonic AB=CD pattern. Henceforth potential downside movements are to be witnessed over intraday basis. Technical targets of the CD leg reside at 18.40, followed by 18.15 zones.
The trading range for today is among the key support at 16.75 and key resistance now at 19.40.
The general trend is to the upside as far as 12.45 remains intact with targets at 19.40 followed by 20.15.
|Recommendation||Based on the charts and explanations above our opinion is, selling silver from 18.75 targeting 18.20 and stop loss above 19.15 might be appropriate|