FX.co ★ Analysis of Silver for April 18, 2017

Recently, the Silver has been trading sideways at the price of 18.40. According to the 1H time frame, I found that price has broken the upward channel, which is a sign that buying looks risky. There is also a hidden bearish divergence on the moving average oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. Downward targets are set at the price of 18.25 and at the price of 17.95.

Resistance levels:

R1: 18.40

R2: 18.43

R3: 18.46

Support levels:

S1: 18.35

S2: 18.33

S3: 18.30

Trading recommendations for today: watch for potential selling opportunities.