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Silver Daily Technical Analysis | 17 January 2018

2018-01-17 08:35 am | Resource: Technical Analysis Section | No Views : 314

US Silver broke through the previous resistance level at $ 17.27 during the beginning of this week and then continued to rise as high as $ 17.35 and with its failure to break started to fall to 16.84 areas.

Silver Daily Technical Analysis | 17 January 2018

Currently our neutral outlook on silver is trading between 17.31 and 16.39 areas, the simple moving average and the slow moving average are negative crosses but without confirmation.
Momentum RSI 14 is trading in a bullish upward direction as the index is trading within a symmetrical triangle pattern.
It is expected that, in the case of a break of silver level of 17.31 may target areas of 18.16 while, in the case of break areas 17.31 may target the level of 16.14.
Support: 16.84 -16.59 - 16.25
Resistance: 17.35 - 17.62 - 18.16
Trend: neutral


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