SIH22 – March Silver (Last:22.475)

The pattern shown offers no good handholds for trading, but it is descriptive nonetheless of a stagnant, frustrating bull market that seems in no hurry to get back in gear.  The so-far eighteen-month correction has produced several lower lows that would have stopped out bulls with no taste for tedium, and left even hard-core bulls wondering whether there mightn’t be a better place for their capital. From a technical standpoint, a rally would need to clear the August 4 peak at 26.19 to signal a likely end to the correction. We can accumulate silver nonetheless by averaging down, but I will limit my guidance for now to responding to your ideas and queries in the chat room.