Break under trend-line support less dynamic than expected.
Silver’s price activity is still choppy, having failed beneath the target zone at 43.8477-80. The move was triggered following a DeMark™ exhaustion sell signal, which also appeared on Gold ahead of its latest reversal.
Trend-line support near 40.000 has now been breached. This now has the potential to unlock sharp setbacks into 38.2100 (20th July low) and 35.8576 (200-dMA). However, the failure to gain momentum following this break is noted.
Key macro support exists at 26.9600 (50% Fib-1999 bull market) and would still mean that silver’s long-term uptrend remains intact.
Please see the attached chart below...