FUNDAMENTAL OVERVIEWThe strong bullish momentum seems to have waned for precious metals and silver is getting hit the most given its smaller market compared to gold. A strong report would trigger a hawkish repricing in interest rate expectations and put pressure on silver. SILVER TECHNICAL ANALYSIS – DAILY TIMEFRAMESilver - dailyOn the daily chart, we can see silver dropped by more than 20% since yesterday as profit-taking hit the market. SILVER TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMESilver - 4 hourOn the 4 hour chart, we can see that the price broke below the trendline that was defining the bullish momentum on this timeframe. SILVER TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMESilver - 1 hourOn the 1 hour chart, we can see that we have a minor downward trendline defining the current bearish momentum.