I never chart silver but I wanted to have some fun and see what I can see. This is the weekly chart for silver. There were a couple of things that stood out to me. The first was the huge bearish divergence on the RSI which in my opinion, has not resolved itself yet. In other words, it suggest that a good drop to much lower prices is in our future. (I am not calling a date). The next thing that I noticed is that it appears that we might be in a falling wedge which will eventually be broken. But that also suggests that we could fall a lot more. I drew two strong support zones. I cant imagine silver falling any lower than $10. The thing I am not sure of is if that upper wedge line is relevant yet or if we have to move sideways a little more. Time will tell. Enjoy.
Oh and one last thing....the 50 weekly MA just crossed below the 200 weekly MA. That's Bearish.
Oh and one last thing....the 50 weekly MA just crossed below the 200 weekly MA. That's Bearish.