Silver under Ichimoku microscope
Over short-term basis, silver has been resisted as well in the classical resistance zones-previously broken support- at 18.60 as seen on the provided weekly studies.
The three waves of declines from the above-mentioned resistance have been stopped by 15.50 last week.
Silver is presently trading in a bearish mode after stabilizing below Tenkan-Sen and Kijun-Sen, reinforced by the negative crossover.
In the interim, Senkou Span acted as a resistance that could cap corrective upside rallies over upcoming sessions.
Selling the metal is preferred below 15.50 boundaries with targets at 14.45, while stop loss could be placed in the 16.50 zones.
Note: Risk versus reward ratio for this short setup is 1/1.