SamKent

Silver Long Term Pattern

FX:XAGUSD   Silver/U.S. Dollar
38 0 0
Silver             has been downtredning for a while now, looking at the weekly chart, we feel like the 17 area is supportive and might hold, especially considering the recent bounce-back in Gold             and its correlation to silver             , however, It should be noted that silver             is a more industry oriented metal than Gold             , and thus it is entirely conceivable to see some divergence between the two.
That being said, if the metal continues to push down we'd be very interested buyers at the 14-12 handle, as it both completes a long term bat pattern as well as being a historic demand zone.
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