Silver Still Deciding Between Support & Downtrend

Posted by The Short Side of Long

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I wrote a post focusing on Silver’s technical price action and sentiment almost a month ago, titled Decision Time For Silver. Interestingly enough, there has been no decision yet. Markets are quite ironic at times, but the pressure continues to build. Therefore, I thought it was prudent to update traders on recent developments as I have a feeling the action is about to start!

Here is an interest fact. When it comes to the price itself, there has been no change over the 12 month and 6 month time frames. Consider the fact that Silver traded at around $19 in June 2013 and it also traded around $19 in December 2013. As I write this post, Silver is trading at… yeap you guessed it… $19 per ounce.

Chart 1: Silver is still at a decision point between support & downtrend 


…continue reading & view 2 more charts HERE