SLV failed to take some key levels

2 Ağu 2014

The recent run failed to take some key levels for silver: The 76.4% level of the Mar-May down move as well as the time Fibonacci 61.8% level of 2011-2013 down move. Therefore I see Silver in the short term going lower. The resistance around 17.5-18 has been tested quite a few times in the last year and I see a bottom around that level forming.