Bad news tonight folks. Silver has broken down below it's medium term up trend. The market is not yet closed and we need to see if we get a bounce later on, but so far it doesn't look good. The best we can hope for now is a false break down and a bounce back tomorrow.
It seems that the unstoppable strength in the dollar continues to put pressure on the metals.
Gold is holding fairly steady bringing the G/S ratio back up to 78.2.
Not a great day today but lets see if we get a bounce. If not I would be very concerned about silver in the medium term.
For disclosure, I'm not a professional advisor and this is not investment advice, merely my own observations of the market and indexes, so do your own research.
