Silver/Dead Cat Bounce Only So far *PIC*

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Silver bounced off major support at 26.50 but is already approaching resistance being the falling 20ema and downtrendline. Price would need to clear 31 once again to suggest there is a reversal in this downtrend from its April highs. No cigar so far with plenty of resistance above. Price is below its 200ema for the 1st time in 2 years as well which is now falling in a downtrend and way up there at 33. Not a good sign with all major moving averages well above price and falling.

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