Silver Weekly Technical Report 22-26/9/2014

The price broke 76.4% correction at 18.20 levels as showing on the weekly graph, as it broke a sideways triangle formation to the downside, which is very negative and could trigger another downside move targeting 13.15 in the upcoming period. Intraday today and this week, trading below 18.20 leads to testing 16.72 and perhaps further towards 16.27.

In fact, all the negative expectations require stability below 19.20, but stabilizing below 18.20 keeps the negative possibility valid intraday.