Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Silver/Back to Major Support *PIC*

Silver has pulled back to the long term previously tested support level around $26.50. This is also the 3 year uptrendline. It is now approaching the moment of truth. The chart pattern is a very bearish Descending Triangle. A 'clear' breakdown that holds below support would project a dramatic selloff the depth of the triangle. There is little to no support below until about $19.50. The RSI 21 is below the 30 level which is very oversold territory and rarely seen.