The sharp drop in silver is putting the whole technical picture at risk …
with the USD insisting on the upside: a difficult and very dangerous situation
Observing the weekly charts I find the level of 22 $ decisive (now we are at 22,7 $) which will be the level – possibly – decisive for an UP or DOWN scenario
I have indicated the stoplosses – for me – of the positions: the breaking of all levels (both silver and stocks) will be the signal that the Dollar breaks upwards and the whole technical picture will pass from bullish (now it is bullish of M / L term) to Bearish
It is not a scenario that I expect but sometimes even the worst hypothesis needs to be evaluated. This is the worst hypothesis that I hope not to see
PS it is possible that – once you reach $ 22 and the stocks on the supports there is an equally violent upward reaction. Nothing to exclude
BUT FIRST REMEMBER THIS THOUGHT OF RIESNER ABOUT THIS SILVER PULLBACK