| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Sell | Neutral |
| Alligator (13; 8; 5) | Buy | Buy | Neutral |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
Silver has been accelerating against the US Dollar since June 5. This up-move followed a few-day movement sideways which was limited from below by the 23.60% Fibonacci retracement at 16.40.
This weekly appreciation has pushed the rate up to its two-month high of 17.15. The upper boundary of the senior wedge is likewise located at this level.
If taking into account characteristics of the senior and junior wedges, the pair should bounce off the 17.20 area and begin a new wave down. This scenario would be confirmed by a bearish breakout of the 61.80% Fibo, the monthly R1 and the 100-hour SMAs near 16.85.
Meanwhile, technical indicators still demonstrate slight upside potential that should be realised during the remaining part of this week. The nearest important resistance is either the four-month high or the monthly R3 at 17.40 and 17.65, respectively.