Silver Found Resistance at 21.11

Last week I wrote that I expected Silver to continue moving to the upside if the break above 19.51 is confirmed and Silver not only continued rallying, but it eventually reached 21.11, although it couldn’t quite reach the previous high at 21.55 formed back in July 2014.

All that said, it appears that the rally has ended for the moment, although the trend itself is still bullish. Silver found resistance at 21.11, formed a spectacular doji candlestick on the four-hour time-frame and started moving to the downside. Its next target is likely 19.51 again, which will have turned from a resistance level into a support one.