Will silver change its trend?

Silver has been falling steadily since it made a double top pattern around the 18.63 zone as shown on the daily chart. Silver has been falling along with gold, but the drop has been caused mostly by a slowdown in the Chinese economy, which has hurt basically the whole commodity sector. The drop on silver from the 18.63 level can also be seen on the MACD indicator, which is still showing a bearish trend, but the histogram’s bars are getting smaller than the previous ones and that is a sign that the trend is losing its strength. On the daily candles we can also see a weakening of the trend as the last few candles have a doji or spinning top formation, indicating that the commodity is undecided at the moment. The price of silver has come very close to the 16.00 zone, which could act as support and from where it may try to bounce to the upside. In case the price bounces to the upside, its next resistance could be the 16.76 level. To the downside, its next support could be the 15.00 level.