CHART: ‘A dangerous setup for silver’

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From Chris Kimble at Kimble Charting Solutions:

CLICK ON CHART TO ENLARGE

This chart was shared with Premium and Metals members yesterday afternoon.

The chart reflects that Silver and Silver ETF (SLV) are both testing triple resistance, inside of a falling channel at (1) above.

We also shared that this resistance test was taking place at the same time that “Dumb Money Traders” have amassed the largest long position in Silver, in all of its history.

This is a dangerous setup for silver, should weakness start taking place.

If you would like to stay abreast of these type of patterns in the silver, gold, and mining sectors, I would be honored if you were a Metals or Premium Member.

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