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TFC Commodity Trading Forum

Dec Silver/Rolling Over *PIC*

Dec Silver like Gold is also very overbought and rolling over with negative divergences on various oscillators. Price only retraced a weak Fib 38.2% retracment of its 14 month selloff. Only a dramatic new 'Headline' would turn prices higher. Seasonal trends show historically October is one of the worst months of the year for Silver and Gold. Actual price resistance is the Feb high of 37.60 that wasn't even reached in the rally from mid Aug. Meanwhile price is still above the rising 20ema with no damage done yet to the price chart.