The silverprice couldn`t stay above 17$ and has fallen back. It´s now on its way to the lower level of the neutral channel (grey).
It´ll be the fourth test of the lower limit and I expect that it will hold.
After having rebounded it should fast rise to the falling trend line (pointed) wehre find a crossing point from two trend lines - short- and long term. This marks a very important point.
One can wait until Silver has broken this strong resistance and then invest in Silver long.
Or, you take profit from short term trading.
This analysis is invalid if Silver breaks through the support line at ~15.66$. In this case another test of the low from 12-2015 is possible.
It´ll be the fourth test of the lower limit and I expect that it will hold.
After having rebounded it should fast rise to the falling trend line (pointed) wehre find a crossing point from two trend lines - short- and long term. This marks a very important point.
One can wait until Silver has broken this strong resistance and then invest in Silver long.
Or, you take profit from short term trading.
This analysis is invalid if Silver breaks through the support line at ~15.66$. In this case another test of the low from 12-2015 is possible.