Silver Spot Comex

The chart is self-explanatory that the trend has been onto bearish note and we expect the same should continue in the near term. As per the Fibonacci projections we see immediate support at $15.00 and below that the next support could be seen at $14.23. Likewise, on the higher side the resistance should be seen at $16.90. However, since the RSI indicator is onto the decelerating trend we believe silver may extend its bearish trend and move towards $14.30+. SO we recommend selling from higher levels.

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