| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Neutral |
| Alligator (13; 8; 5) | Neutral | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The price of silver has been highly influenced not only by the fundamentals of the metal but also the events in the US, as the metal is traded in US Dollars. Although, it can be observed that the bullion is trading, while being highly affected by the Fibonacci retracement levels of the 2016 high and low levels. Recently the metal revealed a descending channel pattern. The channel is aimed at the support of the 23.60% retracement level, which is located at the 16.15 mark. In addition, during Thursday's trading the metal bounced off the resistance of the channel. As a result a short term downwards aimed pattern is set to show itself. Even if that does not occur, it can observed that additional momentum has been provided to the fall of Silver.