SILVER technical picture & outlook for September 10, 2014

Silver downtrend going on without any significant price retracements since mid-July. $19 was broken yesterday to hit stops on hopeful longs. We might see some reaction in the next few days, but ultimately a re-visit of the 2014 lows at around $18.60 is very likely. Short futures positions with a stop @ 19.22 are favored.

Silver, December ’14 futures, daily chart:

SILVER_Dec14_daily_20140910

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

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