If you liked-gold at $1330 I guess you will really like it at $1260.
Both gold-and-silver may have a technical bounce, but beware. The charts are indicating more weakness.
Most time horizon charts for-SLV are very negative.
1. There has been a complete breakdown in price action .
2. Many sell Fractals (red rectangles).
3. The top middle indicator is a 9 interval momentum of OHLC/4, and this has crossed the zero line down-wards.
4. The top indicator is a 34 interval momentum reading of the SLV-price. This is weak, heading lower. This is a sell signal.
5. Chop (under chart) is in the UNDER THE SHADED AREA, indicating a STRONG DOWN MOVE. This is a sell signal.
6. Chop zone (under chop) is red, indicating a downward trend. This is a sell signal.
7. The red conversion line of the is heading lower. This is a sell signal.
8. The black baseline line of the is heading lower. This is a sell signal.
9. Prices are trading below the conversion line and baseline. This is a sell signal.
10. The is heading lower. This is a sell signal.
11. The has a red border. This is a sell signal.
12. Prices are now below a 233 interval trend-line. This is a sell signal.
13. The top lower indicator is a forward projection. For an estimation of possible FORWARD TRENDING I use the Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR-SLV IN THE TOP LOWER INDICATOR. IT IS VERY NEGATIVE.
Positives to report: None. There are so many negatives I believe the TREND IS DOWN.
I did hear silver-recommended on national TV last night. All I can say is "caveat emptor" (Latin for "let the buyer beware").
For those of you who look at what I publish, I don't have any bias about gold-silver-or, for that matter, any particular stock or currency.
I am simply reporting to you what the charts are suggesting to me.
I hope all of your trades go well. Don.