Silver’s impressive downtrend went on last week, as it lost the psychological level of $19 and marked new yearly lows just below 18.50. Although there might be a technical rebound from current levels in the next days, the situation is very precarious to attempt a buy here. During the whole silver bear market that started in mid-July, we have not seen any serious price retracements. There may be some hope for speculative longs over $19.
Chart courtesy of http://www.barchart.com
Please read the Disclaimer!
RECEIVE MY TREND TRADING REPORT FREE OF CHARGE, TWICE A DAY, FOR 2 WEEKS BY SENDING ME AN E-MAIL AT: THETRADINGSTRATEGIST@YAHOO.COM !!!