Silver Weekly Technical Outlook

The strong rebound in silver suggests that a short term bottom was formed in 13.91 and the near term trend is reversing. Also, the consolidation from 14.155 is still in progress with rebound from 13.91 as the third leg. Further rise would be seen back to 15.71 resistance first. Sustained break there will confirm this case and target 17.775/18.505 resistance zone. At this point, we'd expect downside attempt to be contained above 14.24 minor support.