SILVER outlook for September 15, 2014

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.

Silver, December ’14 futures, daily chart:
SILVER_Z14__daily_200140912

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

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