Silver in the channels

Silver is following an interesting bearish channel at present and it is likely to consolidate before testing the trend line and rejecting off it.
The silver market certainly looks bearish at the moment and that looks set to continue. Within the channel we can see various periods of consolidation before large movements. We can see low volatility at present which signals consolidation and it is likely to test the trend line before it moves any lower.

This post was published at TruthinGold on September 4, 2014.