Silver looks to be shifting to a bearish bias as it moves below the swing low of 16.85 from August 19. The commodity’s bearish state seems to be backed by the downward slopes in the Ichimoku lines and the 20- and 40-day simple moving averages (SMAs), with the 40-day SMA nearing a bearish cross of the 100-day one. Furthermore, the technical indicators reflect strong negative momentum in place, with the RSI currently in their oversold territories, while the MACD accelerates below its red trigger line in the negative region. If selling persists, the price could come to rest at the 16.53 level from August 13 before ... (full story)