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TFC Commodity Trading Forum

March Silver/Still Unable to Clear Resistance *PIC*

March Silver continues to battle with the downtrendline resistance from Sept. This is also the $30 price resistance level as well that needs to be cleared and held. Note the RSI 21 run up to the 50 line and roll over again just like in Oct/Nov & Dec. The long term Modified MACD remains below the 0 line since Sept as well. And the falling 20ema is below the falling 50ema which is below the falling 200ema. A very bearish chart still. Price would need to clear and hold above $30 to even suggest a rally of some length and substance was beginning. Until then this Silver chart is still a sick puppy. The Silver to Gold ratio chart is also showing no strength which is also a 1st sign of change to up that is needed. Seasonal trends are bullish for Silver fwiw.