This Past Week In Silver

Big trend is down with a multi month consolidation in progress, while COT data is not supportive of higher prices overall; caution and patience is advised.

SLV – on sell signal.

Silver remains on major sell signal, however, prices are near 200ema support and a major buy signal can materialize in the months ahead.

Silver is testing multi month support, a breakdown could result in a new leg down.

Speculation on silver is not anywhere close to levels of previous bottoms with OI falling.

Summary

Silver is on major sell signal since 2011.

Short term is also on sell signal.

Big trend is down with a multi month consolidation in progress, while COT data is not supportive of higher prices overall; caution and patience is advised.

Disclosure

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

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End of update