I would like to see a weekly 'bar' (5-days) come down into support levels...dip down into $38-39.22 (1-3 days)
Previous Weekly Report
Silver Monthly & Weekly
Silver is moving down during the current week into trailing support levels @ $38-39.22
If Silver is going to continue higher, then it will need to remain above these levels (Friday) and consolidate for the next 3-weeks, and then try late MAY or early June to see if the trend is going to continue higher (July Highs)
However, we can see it has broken Weekly low support ($40.80) (right chart)
This will normally lead to a break and extend pattern towards next week's lows...
and it's also below the monthly 50% level.
In conclusion:- if this 5-day reversal pattern is below those levels, then the trend bias can continue to move back down into the 3-month lows in MAY @ $31.35