On daily chart we see that price of SILVER after a period of growth starts to turn around. It’s a third consecutive bearish day, and yesterday’s session drawn a supply pin bar. Also weekly candle is preparing to be the first bearish in 3 weeks. The place of retreat is not accidental, because we have here local resistance from the previous high and also in this area runs resistance line of bearish channel. We have here also typical bearish pattern of descending highs and lows for a long time.
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On H4 we see breakout from bullish trend. Our nearest support is in the region of 16.25. It seems that price will get there. Breakout of support should open the way to larger declines, according to the broader trend seen in the daily chart.
