Silver (yearly view/possible scenarios)

There was a clear break of the downtred with wedge formation towards the end of 2016. A strong support was established at 17.20 (blue line). If it bounces back up, we might expect a new test of 18.50 level (green line). If key support line fails to hold, we could see price going as low as 16 to 15.80. Shorting seems like an interesting position in the short term.

*Important: The silver market is highly controversial and there's clear evidence of insider influence/manipulation of price in the past, so take everything with a grain of salt.

Comment:

Please ignore the last idea, as it is a duplicate. This is the one I'll be updating.

Comment:

So we broke main support. We might reach the 16.00 - 15.00 mark in the next week.