SILVER Resistance level

• Silver hour chart with 200 Hour moving average.
• Attempt of bulls is getting rejected at 200 Hour moving average.
• Bigger up move will happen only if price is able to break above 200 Hour moving average.
• Falling below 39.90 levels will favor bears.

SLV Trend update

• If SLV is to move up from here it has to break above the 50 Hour moving average and stay above 40.37 levels.
• Price is moving in a range. Price staying above 40.37 will favor bulls
• Price staying below 50 Hour moving average will favor bears.

SLV Moving towards Channel Top

• SLV Daily chart is moving towards the channel resistance.
• Resistance line is approximately between 41.70 - 41.80 level.
• SLV is likely to get resisted at this channel. Daily close above this line will change the above scenario.

SLV Hour chart analysis

• SLV hour is showing a possible rising wedge pattern
• Price is trending up above 20 Hour moving average.
• If price starts to trade below 20 Hour moving average we may see an extended correction from the rising wedge.
• US DOLLAR TESTING SUPPORT LEVELS
  

SLV Analysis

• SLV is trending down below its 200 and 50 Hour moving average.
• Good long trade will be possible only if Price stay above 50 Hour moving average.
• Price is slowing down near weekly trend line. This gives some hope for the bulls. If price continue to stay above the weekly trend line we will soon see an up move.

SLV Resistance levels

• SLV Day got resisted exactly at the 50 Day Moving Average.
• Hour is forming a range from 33.58 - 37.90.
• Breaking the cloud in hour is going to be tough for bulls.
• If 33.58 Breaks we may see the next leg down for SLV

SLV Resistance levels

• SLV Day got resisted exactly at the 50 Day Moving Average.
• Hour is forming a range from 33.58 - 37.90.
• Breaking the cloud in hour is going to be tough for bulls.
• If 33.58 Breaks we may see the next leg down for SLV

SLV Weekend update

• First chart shows price in weekly chart hitting the 20 week moving average and pausing here. Problem is with all that selling volume will the bears stop here? I feel more down moves to come in the coming weeks before we see a reversal.
• Trend lines are projecting price towards 31 - 32 level in the short term.
• Important supports are at 34 this is were the market closed and then the most important one is at 26.74 we have the 50 week moving average around here which will make it an important support level.
• SLV INTRADAY UPDATE
  

SLV - Immediate Resistance levels

• SLV Hour may give a green candle. But hour chart has immediate resistances in the form of a GAP that was formed yesterday. GAP is between 36.89 - 38.01.
• Then 10 bar and 20 bar Hourly moving averages are acting like strong down trend lines. Unless these levels are taken out by bulls a Meaningful pull back is not possible.
• SLV ANALYSIS AFTER CLOSING BELL
  
  

SLV Analysis after closing bell

• SLV has closed way below its 50 day moving average.
• Next important support lies near 29 Level.
• Supports in a bear market may not act meaningfully. Price is tumbling down, Hour chart shows the vertical fall clearly.
• So unless price decides to consolidate near the support levels this fall will continue. We had the 6th Red candle in daily chart in a row and this was a big one which closed near days low. 
• Conclusion More pain for bulls of SLV.

SLV CLOUD BREAK

• SLV Four hour chart has fallen below the cloud.
• Price has fallen with high volume.
• Sideways to negative trend will continue in SLV until price remains below the cloud.