Silver dropped with the beginning of this week, as RSI and MACD are showing a bearish bias and are losing the bullish momentum. Despite that, Linear Regression Indicators are still positive and the price is still trading above 50% correction at 17.93.
In fact, betting on a downside move now is risky especially that the price failed to touch 61.8% correction at 18.79. Betting on an upside move also contradicts with the weakness on both RSI and MACD. Therefore, we remain neutral in our weekly report and will update this report in case of any new signal.