Tanalys

Silver MT: capped by a negative trend line.

Pivot: 26.

Our Preference: As long as 26 is resistance, look for a drop towards 20.6 18.2.

Alternative scenario: An upside breakout of 26 would open the way towards 28.

Comment: as long as 26 is resistance, expect a return to 18.2.

Trend: ST Bearish; MT Bearish, we have been bearish since 13 SEP 2013 (21.85).

Key levels Comment

29.2 Horizontal resistance

28 Horizontal resistance

26 Pivot point

21.81 Last

20.6 Horizontal support

18.2 Horizontal support

14.7 Horizontal support

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