CHART: ‘A dangerous setup for silver’
From Chris Kimble at Kimble Charting Solutions:
CLICK ON CHART TO ENLARGE
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.