We just looked at gold, so let’s turn to silver.
Again, there is always the potential for a bear trap since these metals are in secular (very long-term) bull markets, even if the trend spanning months or even quarters is now lower. But there is little evidence of it yet.
With the silver weekly chart ETF, we have another bear flag in the form of backing and filling the past few weeks that seems to be breaking down today. I would look at the primary 2010 breakout around $18.90 as a logical downside target.
_________________________________
