Silver prices kept sliding in the intraday levels and short term trading, trespassing the SMA50 and exposing themselves to its negative pressure, with an influx of negative signals from relative power indicators, as the metal hints at forming a negative technical pattern that is contradictory to the upward trend in the medium and short terms, the Head and Shoulders pattern, as shown in the attached chart, with silver leaning on the neck line of that technical pattern, readying to break it.

Therefore in case of the prices breaking through that forming negative technical pattern, it confirms it, doubling thereafter the negative pressures on the coming trading, which means more losses, targeting thereafter the support of 14.77.

Trend Bearish