Potential head-and-shoulders pattern on 4-hour chart

• Silver has bounced up to $25.90 in Asia. 
• The metal may create H&S pattern on the 4-hour chart. 

Silver is currently trading near $25.90 per ounce, having printed a low of $23.39 on Wednesday. 

If the bounce fades and prices fall back to $23.50, a head-and-shoulders (H&S) pattern would be confirmed on the 4-hour chart. 

Acceptance below $23.50 would confirm breakdown or transition from higher lows, higher highs pattern to lower highs and lower lows pattern, and create room for a slide to $17.14 (target as per the measured move method). 

4-hour chart

Trend: Bearish below $23.50

Technical levels