Silver
prices dragged slightly down as encountered bears creeping and conquering the key
support at $16.31.
Latest
peak marked by silver on April 19 at $16.90 was followed by a lower high of
$16.63 and since then the short term sentiment turned to bearish.
Currently XAG/USD is trading around $16.255, 1,02% lower, hitting intraday high
at 16.455 and low at 16.215.
Key
resistance is located around $16.40 and support levels to watch are $16.21 and $16.09.
We
witness perfectly incomplete performance, as silver suffers for short. A
correction is taking a shape, which is seen by 20- and 55-day EMAs.
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