Precious metals often are weak in the summer months, but this loss has been unexpected.
As we can see in the chart, it has broken several chart patterns:
3 descending peaks - and the neckline
a big negative triangle - it crossed the bottom line (fib retracement 23.6%)
the long term falling
And 2 swing . On the scond one it rebounded and is still fighting on this level.
The indicators and have fallen also, with some of course. They´ve reached very terrain.
But, since 09-04 the silver price has stopped its rush and the swing at ~14.10 consists as .
A small (green) is showing a possible trend channel to the side. As long as silver stays within this zone there is some hope that it´ll leave the negative trend channel on the upper side.
Positive signals are coming from and as well.
If, of course, Silver plumpes out of the neutral reactangle to the bottom the little hope is finished.
The next aim should be the upper limit of the trend channel at least on 14.20$ or above, followed by the next swing at ~14.80$. And then Silver has to break the bigger resistance at 15.50$ (fib retracement 23.6%).
This is no trading advice.