Silver - 4 Hourly

Momentum for silver paused as the market dips, however if support holds there is potential for further gains.

From a technical overview the price of silver today is at $19.09. The minor resistance sits at $19.06 where it meets the orange trendline, followed by a further resistance level of $18.78 (green oval). A break below the $18.78 price could see the commodity lose its gains and create a downwards trend towards the $18.57 price. Which is where the red trendline meets. Towards the upside, the first resistance level is at $19.65 which almost meets the top layer of the symmetrical triangle. A break above the triangle could see silver spike again towards the early highs of this month ($20.01). MACD has just turned negative and RSI reads 44, overall suggesting a neutral stance.