Silver Technical Analysis
Silver has been hovering close to the 16.90 since mid-November, but broke below this line on Friday, with sharp losses. This has put support at 16.50 under strong pressure. This line has held firm since August, so it would be a significant development if this line breaks. If this occurs, the symbolic round number of 16.00 would be vulnerable. This line was last tested in early August. The 50-EMA line remains relevant and is touching the candlesticks at 16.56. As well, the 200-EMA is showing resistance at 17.21.