Jump to content


Silver’s Precipitous Fall

  • Please log in to reply
No replies to this topic

#1 James Chen

James Chen

    Senior Member

  • Active member
  • PipPipPip
  • 251 posts

Posted 05 May 2011 - 06:24 PM

Silver (a daily chart of which is shown) as of Thursday (5/05/2011) has dropped precipitously for five consecutive days from near its $50 area all-time high to hit a low just above $35. This deep correction follows a steep run-up that was in place since late January. The bearish correction has taken price down to the 61.8% Fibonacci retracement of the last major bullish trend run. For more silver technical analysis, please click here.

James Chen, CTA, CMT