I stated a few weeks ago in a podcast that there may be a long play in Silver, as long as we saw a daily close above $16.61.
We never got such a close.
I have no outright positions at the moment, but as far as my outlook? I remain completely bearish on Silver prices.
The first firm support is obviously around $15.50.
Silver is within a seasonally bullish time period at the moment, and it can’t even give one daily strong close? And only uses any strength to sell off harder?
Not a good sign for the Silver bulls.
I’m bearish until I see a strong daily close.