Silver Weekly Technical Outlook

The breach of 17.235 resistance indicates short term bottoming at 16.15, ahead of key support level at 15.83. Further rebound is now in favor back to 19.00 resistance. Decisive break there will indicate that whole corrective fall from 21.22 has completed and would bring stronger rise to retest this resistance. In case of another decline, we'd continue to expect strong support around 15.83 to bring rebound.