Silver continues to trade under substantial technical bearish pressure. The recently formed 50/100 DMA “death” cross and an apparently imminent 50/200 DMA bearish cross will push the metal lower. At the same time, the 50/100 WMA bearish cross made 5 weeks ago does not show any signs of reversal.
The 50/100 “death” cross on the weekly frame (charts below) happened only 9 times in 42 years. After such crosses, silver lost on average 35%; range: 8-72%. If the metal targets a 35% loss now, it would be heading towards $16.
Let’s evaluate the metals from various perspectives.
Silver All Time Analysis & Long Term Forecast:
This overview contains:
– analysis of the weekly/daily candles and TA;
– long and mid term forecasts.
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In case you want to compare the metals, this is the link to the all time forecast for Gold:
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