Silver Is Consolidating

Silver has been caught in a relatively tight range between 18.60 and 19.20, or in other words between the two (MA)89 indicators on the four-hour and daily time-frames for a week now, and it appears that range won’t end soon because it just formed a shooting star candlestick under the (MA)89 indicator on the four-hour time-frame. I expect a new move to the downside, first towards the support at 18.90, and if it breaks out below that level there will probably be a further drop towards the next support at 18.60. On the other hand, if Silver does finally break out above (MA)89 on the four-hour time-frame it will likely continue climbing towards the next resistance at 19.80.