The Fundamental View: "I do think that silver breaks lower this week"

The Fundamental View
I do think that silver breaks lower this week. The contra trend rally has in my view ended and we should see silver break to the downside again this week… that is, unless the 200 day is breached with conviction and if spot can get past $37.58 taking the H&S out of play. The neck line is $32.50 and if it is breached, we will see sub $30.00 silver in no time at all. If we take a look at the 2 year chart in silver you can see that silver still remains in a downtrend.

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