Silver Weekly Technical Outlook

Silver's rebound from 17.12 was limited at 19.00 and subsequent sharp fall indicates that the choppy decline from 21.22 is not completed. Initial bias is now on the downside this week for 17.12 and then 61.8% retracement of 13.62 to 21.22 at 16.52. Still, such fall is seen as a corrective move and we'd expect strong support above 15.83 and bring reversal. Break of 19.00 will turn outlook bullish for 21.22 high gain.