SILVER technical picture & outlook for September 5, 2014

Nice downtrend for Silver since mid-July, without any significant price retracements. From a technical analysis perspective, a test of $19 (spot price) is in the cards for next week, while a re-visit of the 2014 lows at around $18.60 is very likely, as long as $19.30 holds on the upside. Short positions are favored.

Daily chart for Spot Silver:

SILVER_daily_20140904

Chart courtesy of http://www.stockcharts.com

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