from Elliott Wave Technology:
Though still rising (for now) amid higher-highs and higher-lows, Silver is beginning to show signs of losing its grip on the uptrend established from its December low.
After peaking at $18.50 upon brief encounter with a well-established bearish and declining 200-day average, the dollar-price of silver today is breaching its short-term uptrend line.
Silver must maintain trade above the recent 16.74 pivot low in order to maintain its grip on the uptrend. Failure to do so sets the next support level decidedly at 15.51.
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