Here is a couple of silver charts.
Why, because silver is typical of the metals, which is typical of our currency, which is typical of our stock market.
The first is a daily chart of silver which is a bit worrying.
It has had 3 legs up since the June '06 low but has failed to make new highs. Is it a 5th wave failure?
You can also see a momentum divergence with the last high and now a lower top. That is a classic sell situation.
Trend line is still holding so I suppose that is something.
Second chart is a weekly and shows that like gold a 65 ma (red dotted line) has has been key support to the whole movement up this decade.
So $12.30 approx is major support and only a break of that on a eek end basis would suggest the whole resource game is over, at least for a while.
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Here is a couple of silver charts.Why, because silver is typical...
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