Taking a quick look at the chart we can see that the earlier violent oscillations appear to be slowing and entering a less erratic phase of movement. We can also see that the price of silver has now fallen below the 200dma which now becomes a resistance level for silver.
The Bulls and Bears are both putting forward strong cases in terms of why they are correct about the direction of silver. You don’t need to read between the lines here as the each camps predictive analysis moves to more extreme pricing with the bulls expecting a moon shot and the bears focusing on the basement. As we see it it’s going to be a close call either way in the short term.
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Silver Charts: Consolidated, Bearish
Published 02/18/2013, 05:14 AM
Updated 05/14/2017, 06:45 AM
Silver Charts: Consolidated, Bearish
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