SILVER (XAGUSD) - Weekly Technical Analysis Update

Midterm forecast:
While the price is below the resistance 25.65, continuation of downtrend is expected.
We make sure when the support at 19.65 breaks.
If the resistance at 25.65 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:
The RSI support #1 at 52 is broken, so the probability of continuation of downtrend is increased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 28.85 on 09/01/2020, so more losses to support(s) 22.15, 21.00 and minimum to Major Support (19.65) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 31.

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