It’s Like A ‘Broken Dream’

For silver bulls, it must feel like the old Rod Stewart song, from the early 70’s, ‘In a Broken Dream’;

‘Right now, is where you are … in a broken dream’

Especially so, for those allowing themselves to be subjected to non-stop propaganda about a ‘hyperinflation breakout’ or that silver’s going to ‘close the gap’ with gold.

So, it’s been nearly six months … where is it?

Meanwhile, back at the ranch during those same six-months, the press and YouTube grifters et al., were ignored.

Analysis was fact based; what’s the market saying is the most likely thing to happen?

The last post, link here, said to watch out for a failed breakout (Wyckoff Up-Thrust).

Silver SLV, Weekly

SLV price action has posted a new weekly low; both MACD lines, and histogram, show bearish divergence.

Of course, anything can happen. Silver could move higher.

However, the chart says, at this point, probability for (significantly) higher action is low (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279