Silver Futures Index $SILVER (SILVER)

[rdweinert]

I agree that silver might be ready for a decline. I have shorted it since Monday. Currently appear to be in a triangle pattern on the hourly chart. RSI and MACD showing negative divergance on the 3 hr chart. Also, silver has broken the daily rising trendline. Also, look at some other securities and we can see some correlation. Gold is trading at its 100 day sma, silver has touched its 50 day sma. Gold has broken its rising trendline as well. IMO things are looking a little bearish for silver. My plan is to short it down to its 100 day SMA. I am establishing a small core position. I will add and subtract from that postition taking profits as it works it way down.